Canadian Trust Agreement

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Executive Summary

Background Information

This trust agreement is a land claims settlement agreement with Her Majesty the Queen in Right of Canada and Her Majesty the Queen in right of Ontario, to settle claim concerning the northern boundary of the reservation made in the Treaty of September 9, 1850. The Mississauga Band, also known as The Mississauga Frist Nation is called “Mississaugi” represented by the council. Carolyn Boyer, Mark Cada, Gloria Daybutch, James W. Morningstar and Roger Jones are the trustees elected by the council. The purpose of the trust agreement is to ensure that the money in the trust account is managed, used and invested prudently and wisely, for the benefit of the present and future generations of the people of Mississagi.

Objective

The main purpose of this paper is to apply the knowledge and material learned in the class to the trust agreement and provide recommendations for the legal issues raised from this trust agreement.

Description of the Trust Agreement

This part provides the explanation and description of the trust agreement. The wording has been converted into appropriate business format and the readers can have good understanding of the agreement.

Legal Principles

To describe each specific parts of trust agreement and related information, the basic legal principles are defined. There are twenty class principles in this paper which cover the all topics in the class, such as the fundamental freedom and rights in Canada, property and capital, conflict resolution, interest of disclosure, contract agreement termination of agreement and corporate law topics.

Recommendations

The purpose of this section is to provide key recommendation. All recommendations should be used to solve the legal issues raised in this trust agreement. The council needs to build a transparent online platform which can show all information about the trust fund and property to every stakeholder. It needs to restrict the authority of the trustees and set up clear regulations regarding the change, make rules to improve govern of procedures. When they make decision regarding the retain, dismiss of employees, the council needs to gather all trustees and the council should set up a punishment and rewarding system which can punish or reward trustees based on its investment performance. The council needs to investigate the interest and damage of those projects and proposals, making sure the profit is always reliable.

Legal Issues

This section provides the problem scenarios to test the potential legal issues in the trust agreement. Generally, there are four legal issues discussed in this paper, which those topics relate to the liability, stakeholders, authority, accountability, duties, election of trustees and the operation of the trust fund.

Introduction

Explanation of the Paper

This paper is written for ADM3360 Business Law class.  The paper will analyze the legal terms regarding the trust agreement applicable in Canada.