The trust is a common law invention, the product of experience over many years. But the more it is reduced to legislation, the more formalistic it becomes, and the less able it will be to respond to new situations and challenges. The quasi-code approach--and, to a much lesser extent, the targeted approach--also results in a fragmenting of the trust law. The trust has benefited immensely from the relative uniformity of most general principles throughout the Commonwealth and other common law countries. This has enabled developments, in the form of judicial pronouncements, in one country to be freely adopted in others. With the imposition of the quasi-codes, the concern is that in the future there will exist a multiplicity of trust systems, many of which will be unable to contribute to, or benefit from, the general development of trust law.
The Role of Offshore Jurisdictions in the Development of the International Trust,
32 Vanderbilt Law Review
Available at: https://scholarship.law.vanderbilt.edu/vjtl/vol32/iss4/2