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you are here: > Canonum De Ius Positivum
> Article 48
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II. Form |
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| 2.1 Form | ||
| Article 48-Liability | ||
| Canon 1687 | ||
| A Liability is an obligation, debt or responsibility owed by a Person to another within the context of Trust and Estate Law. | ||
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| Canon 1688 | ||
| A Liability does not exist if no Trust or Estate exists. | ||
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| Canon 1689 | ||
| The obligation to a Liability is defined by the relationship of the Person to the Trust or Estate and the rules of agreement. A Person cannot assume the liabilities of another without having a relationship to the Trust or Estate that holds the liability. | ||
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| Canon 1690 | ||
| The Holder of an original agreement generally accepts all liabilities of the Trust or Estate administered by that instrument, unless another related to the Trust or Estate consents to act as surety to the liability. | ||
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| Canon 1691 | ||
| As it is the obligation of the Trustee on behalf of the Executor of the Trust to administer all Assets and Liabilities, any acceptance of liability on the part of a Beneficiary may only be temporary, according to some fixed term or conditions. | ||
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| Canon 1692 | ||
| Once a Beneficiary completes any obligations or agreement associated with acceptance of surety for a liability, the obligation for any continuing liability must automatically return to the Executors and Administrators and their Trustees of the Trust or Estate. | ||
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| Canon 1693 | ||
| When a Person dishonors an instrument, properly formed and registered, then a deed of dishonor may be issued. When a deed of dishonor properly formed is dishonored a deed of protest may be issued. When a Person has dishonored three perfected instruments, they have then fully consented and accept any attached liability even if such consent and acceptance has not been made orally or in writing. | ||
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| Canon 1694 | ||
| When a Person uses any property of a Trust or Estate without permission, they automatically assume a relationship with that Trust or Estate as a Beneficiary and accept full liability attached to the use of that property. | ||
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| Canon 1695 | ||
| A Person who admits mistake and error in trespass on the use of property of an Estate or Trust without express permission is automatically freed of any liability obligations and full liability returns to the Executors or Administrators and their Trustees. | ||
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| Canon 1696 | ||
| Any Executor or Administrator or their Trustees that refuse to act within their obligations and accept when an obligation is returned upon admission of a mistake or non-consent as surety is guilty of a gross breach of duties and automatically becomes personally liable for any and all associated liabilities. | ||
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| Canon 1697 | ||
| Any Liability created in fraud automatically becomes the personal obligation of the Person who committed the fraud. | ||
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