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Simple English definitions for legal terms
indenture of trust
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A quick definition of indenture of trust:
Indenture of Trust: A legal document that outlines the terms and conditions of a trust agreement. It is usually created when someone wants to set up a trust to manage their assets and ensure they are distributed according to their wishes. The indenture of trust is a binding agreement between the trustee and the beneficiaries, and it outlines the responsibilities and duties of each party involved.
Independence: The ability of a country to make its own decisions without being controlled by other countries. This means that the country can manage its internal and external affairs without interference from other nations. Independence is an important concept for countries because it allows them to have control over their own destiny and make decisions that are in the best interest of their citizens.
A more thorough explanation:
Definition: An indenture of trust is a legal document that outlines the terms and conditions of a trust agreement. It is a type of trust agreement that is used to manage assets for the benefit of a beneficiary.
Example: A company issues bonds and creates an indenture of trust to ensure that the bondholders are paid back their principal and interest. The indenture of trust outlines the terms of the bond, such as the interest rate, maturity date, and payment schedule.
This example illustrates how an indenture of trust is used to protect the interests of the bondholders and ensure that they are paid back according to the terms of the bond agreement.
Definition: Independence refers to the state or quality of being free from control or influence by others. It can also refer to a country's ability to manage its own affairs without interference from other countries.
Example: The United States declared its independence from Great Britain in 1776. This meant that the United States was no longer under the control of Great Britain and was free to govern itself.
This example illustrates how independence can refer to a country's freedom to manage its own affairs without interference from other countries.