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_Trust (law) In law, trust is a relationship in which the holder of property (or any other transferable right) gives it to another person or entity who must keep and use it solely for another's benefit. In the English common law tradition, the party who entrusts the property is known as the "settlor", the party to whom the property is entrusted is known as the "trustee", the party for whose benefit the property is entrusted is known as the "beneficiary", and the entrusted property itself is known as the "corpus" or "trust property". A testamentary trust is created by a will and arises after the death of the settlor. An inter vivos trust is created during the settlor's lifetime by a trust instrument. A trust may be revocable or irrevocable; an irrevocable trust can be "broken" (revoked) only by a judicial proceeding. The trustee is the legal owner of the property in trust, as fiduciary for the beneficiary or beneficiaries who is/are the equitable owner(s) of the trust property. Trustees thus have a fiduciary duty to manage the trust to the benefit of the equitable owners. They must provide a regular accounting of trust income and expenditures. Trustees may be compensated and be reimbursed for their expenses. A court of competent jurisdiction can remove a trustee who breaches their fiduciary duty. Some breaches of fiduciary duty can be charged and tried as criminal offenses in a court of law. A trustee can be a natural person, a business entity or a public body. A trust in the United States may be subject to federal and state taxation. A trust is created by a settlor, who transfers title to some or all of their property to a trustee, who then holds title to that property in trust for the benefit of the beneficiaries. The trust is governed by the terms under which it was created. In most jurisdictions, this requires a contractual trust agreement or deed. It is possible for a single individual to assume the role of more than one of these parties, and for multiple individuals to share a single role.

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PerContRep: a practical reputation system for pervasive content services

Yu Chen, Yue Shen

Social network has extended its popularity from the Internet to mobile domain. Personal mobile devices can be self-organized and communicate with each other for instant social activities at any time and in any places to achieve pervasive social networking (PSN). In such a network, various content information flows. To which extent should mobile users trust it, whilst user privacy can also be preserved? Existing work has not yet seriously considered trust and reputation management, although trust plays an important role in PSN. In this paper, we propose PerContRep, a practical reputation system for pervasive content services that can assist trustworthy content selection and consumption in a pervasive manner. We develop a hybrid trust and reputation management model to evaluate node recommendation trust and content reputation in the context of frequent change of node pseudonyms. Simulations show the advantages of PerContRep in assisting user decisions and its effectiveness with regard to unfair rating attack, collaborative unfair rating attack, on-off attack and conflict behavior attack. A prototype system achieves positive user feedback on its usability and social acceptance.

Springer2014

Trust categories and their impacts on information exchange processes in vertical collaborative networked organisations

Naoufel Cheikhrouhou, Michel Pouly, Garikoitz Madinabeitia

Whereas small and medium enterprises can answer the different business challenges through cooperation within collaborative networked organisations (CNOs), human aspects constitute a fundamental issue in these networks since it is neither organisations nor information systems but people that cooperate. This paper addresses the major human aspect considered in vertical CNOs, namely trust that can significantly impact knowledge and know-how exchange as well as information sharing. A case study on Swiss Microtech, a vertical collaborative network from the industry of machining operations, is presented and discussed with respect to these issues. With the help of an analytic hierarchy process technique designed and developed, different trust types are identified, their corresponding weights are evaluated and their relationships with information sharing and exchange are discussed. The results show that the institutional perceptions of trust and its attributes in the enterprises studied are very close to each other. Furthermore, out of the five identified types, only competence, relational and contractual trust categories have a significant impact on strengthening the relationships between enterprises belonging to a vertical CNO.

Taylor & Francis2012

Trust law

Contract

A contract is an agreement that specifies certain legally enforceable rights and obligations pertaining to two or more mutually agreeing parties. A contract typically involves the transfer of goods, services, money, or a promise to transfer any of those at a future date. In the event of a breach of contract, the injured party may seek judicial remedies such as damages or rescission. A binding agreement between actors in international law is known as a treaty.

English law

English law is the common law legal system of England and Wales, comprising mainly criminal law and civil law, each branch having its own courts and procedures. Although the common law has, historically, been the foundation and prime source of English law, the most authoritative law is statutory legislation, which comprises Acts of Parliament, regulations and by-laws. In the absence of any statutory law, the common law with its principle of stare decisis forms the residual source of law, based on judicial decisions, custom, and usage.

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