Baker v. Stern

Rosenberry, • J.

This court is called upon in this case for the first time to deal with some of the legal aspects of a business trust, a business device which had its development principally in Massachusetts and is consequently frequently referred to as a Massachusetts trust. The business trust is of comparatively recent origin and courts in other states have been called upon to consider it with relation to taxation, incorporation statutes, bankruptcy laws, laws regulating the sale of securities commonly called “blue sky laws,” rights of creditors, and liabilities of the beneficiaries or…