Common law is a legal system that originated in England and has spread to many countries around the world, particularly those that were former British colonies. It is one of the two major legal traditions in the world, the other being civil law. Here are some key points to help explain common law: 1. **Precedent-Based System**: One of the defining features of common law is that it relies heavily on precedent. This means that decisions made by higher courts (especially appella

A trust is a legal arrangement wherein a person (the "settlor" or "grantor") transfers assets to a trustee, who manages and holds these assets for the benefit of one or more beneficiaries. It is a fundamental concept in trust law and serves various purposes, including asset protection, estate planning, and charitable giving. **Key Elements of Trust Law**: 1. **Key Parties**: - **Settlor or Grantor**: The person creating the trust, who transfers assets into it. - **Trust

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