Black's Law Dictionary,
Sixth Edition, p. 1232:
Public trust:
See Charitable trust; Trust .
[Black's Law Dictionary, Sixth Edition, p. 1232]
Black's Law Dictionary,
Sixth Edition, p. 234:
Charitable trust. One in which property held by a trustee must be used for charitable purposes (advancement of health, religion, etc). Fiduciary relationship with respect
to property arising as a result of a manifestation of an
intention to create it, and subjecting the person by whom the property
is held to equitable duties to deal with the property for a charitable
purpose. Restatement, Second, Trusts, §348. See Charitable
purpose.
[Black's Law Dictionary, Sixth Edition, p. 234]
Black's Law Dictionary, Sixth
Edition, p. 234:
Charitable purpose. Term as used for purpose of tax exemption has as its common element
the accomplishment of objectives which are beneficial to community or
area, and usually recognized charitable purposes, not otherwise limited
by statute, are generally classified as: relief of poverty; advancement
of education; advancement of religion; protection of health; governmental
or municipal purposes; and other varied purposes the accomplishment
of which is beneficial to community. Bank of Carthage v. U.S.,
D.C.Mo., 304 F.Supp. 77,80.
[Black's Law Dictionary, Sixth Edition, p. 234]
Black's Law Dictionary, Sixth
Edition, p. 1508:
Trust. A legal entity created by a grantor for the benefit of designated beneficiaries
under the laws of the state and the valid trust instrument. The
trustee holds a fiduciary responsibility to manage the trust's corpus assets and income for the economic benefit
of all of the beneficiaries. A confidence reposed in one person,
who is termed trustee, for the benefit of another, who is called the
cestui que trust, respecting property which is held by the trustee for
the benefit of the cestui que trust. State ex rel. Wirt v. Superior
Court for Spokane County, 10 Waxh.2d 362, 116 P.2d 752, 755. Any
arrangement whereby property is transferred with intention that it be
administered by trustee for another's benefit. A fiduciary relationship
in which one person is the holder of the title to property subject to
an equitable obligation to keep or use the property for the benefit
of another.
[Black's Law Dictionary, Sixth Edition, p. 1508]
Black's Law Dictionary, Sixth
Edition, p. 1512:
Public trust. One constituted for the benefit of the public at large or some considerable
portion of it answering a particular description; public trusts and
charitable trusts may be considered in general as synonymous expressions.
[Black's Law Dictionary,
Sixth Edition, p. 1512]