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Abstract

The exact nature and legal incidents of the business trust, better known as the Massachusetts trust, have been put in question several times in recent years. There have been many conflicting decisions, and they represent varying degrees of hostility or favor towards a method of doing business which seems to possess many of the advantages of incorporation without carrying its burdens. It has recently been said: "The different and confusing conceptions of the law upon the subject of the Massachusetts trust, as evidenced by the many decisions of courts of the different states, and in discussions by the text-writers throughout the country, is our apology for this extended discussion." Continental Supply Co. v. Adams (Tex. Civ. App. 1925) 272 S. W. 325.

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