Chapter IX — OF CERTAIN OBLIGATIONS IN THE NATURE OF TRUSTS

Section 92Purchase by person contracting to buy property to be held on trust

Section 92: Purchase by person contracting to buy property to be held on trust

92. Purchase by person contracting to buy property to be held on trust

Where a person contracts to buy property to be held on trust for certain beneficiaries and buys the property accordingly, he must hold the property for their benefit to the extent necessary to give effect to the contract.