Dealings by Trustees with Third Parties
Having your eyes wide shut when concluding deals can be costly, not least so where trusts are involved. Associate Marco Nel sounds the call to trustees and third parties to place due diligence above efficiency and take the time necessary to get to know one another, the perimeters of their dealings and the greater legal framework in which they operate. This note highlights the importance of trustees properly identifying themselves when dealing with third parties and steps third parties can take to protect their interests.
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