Trusts and commerce: what’s the purpose?

In this article Elizabeth Weaver and Bajul Shah explore the concept of a Quistclose trust.

A Quistclose trust is a trust that operates by operation of law in commercial transactions, which can be of particular significance to lenders or transferors of property seeking remedies after a failed transaction. This article considers the concept of a Quistclose trust and its development in case law and looks at the elements necessary to establish a Quistclose trust and how the trust operates in practice.

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This article was first published on 13 January 2026 in Trust & Trustees, ttaf095.