title:Cy-Pres Doctrine, The

In English charity law the doctrine that where a settlor or testator as expressed an intention, and also a particular way in which he wishes it carried out, but the intention cannot be carried but in that particular way, the Court will direct the intention to be carried out as nearly as possible in the way desired.

title:Custodian Trustee

(In English law) a corporate trustee who holds property on behalf of trust (as distinguished from the managing trustee who does the work of administration).

A system used in order to enable the appointment of new managing trustees, as people come and go, without the necessity of transferring the trust property from the Id trustees to the new on each new appointment.

title: Covenant

An agreement creating a legally binding obligation contained in a deed.

In British law, a covenant to pay to a charitable organisation or trust an annual sum for 7 years or life (whichever is shorter) gives certain tax relief.

title:Cost Center

A clearly identifiable activity or set of activities which can be distinguished as to the objectives, costs incurred and income received in carrying it out.

title:Corpus

The "body", "capital" or "principal sum" of a charity from which income is derived (as distinguished from interest or income).

title:Contribution

Something given to the property of an organisation or institution; payments made to meet the organisation's costs. Hence contributor, one who gives or contributes.

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