Applying the Concept of Trust in Managing breach of ethics and integrity in Malaysia: constructive trust as the best possible remedy
Ethics and integrity have always been associated with individual personality and honesty and these wide concepts are applicable in all kinds of situation. Trust, on the other hand, is also closely related to integrity. In order for trust to be established, a trustee needs to be appointed, and t...
Saved in:
| Main Author: | |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Eubios Ethics Institute
2010
|
| Subjects: | |
| Online Access: | http://irep.iium.edu.my/23684/1/Applying_the_Concept_of_Trust.pdf http://irep.iium.edu.my/23684/ http://www.eubios.info/EJAIB112010suppICEP.pdf |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| Summary: | Ethics and integrity have always been associated
with individual personality and honesty and these
wide concepts are applicable in all kinds of situation.
Trust, on the other hand, is also closely related to
integrity. In order for trust to be established, a trustee
needs to be appointed, and the highest form of
integrity is expected from a trustee whereby the
property that he is holding, as a legal owner, is not
his but it belongs to a beneficiary or beneficiaries.
Similarly, in cases involving charitable trust, trustees
need to be aware that trust funds in most cases
donated by the public are well managed. In principle,
if it is used for other purposes set by such trust; this
will eventually lead to breach of trust. Conversely in a
case where it does not involve any direct creation of trust and appointment of trustee, the element of fraud
and malpractice in managing any affairs may give
rise to breach of trust by which court may interfere by
invoking the concept of constructive trust as a legal
remedy. The attitude of the courts in Malaysia in
recognizing rights arising directly or sometimes
indirectly from trust has been very clear, but the issue
as to whether remedies for breach of trust is the best
method in dealing with breach of ethics and integrity
needs to be examined. This paper looks at possible
legal remedies available in dealing with breach of
ethics and integrity especially at workplace and also
at other possible circumstances involving social
relationships. It also examines the current situation
dealing with charitable organization in coming to the
conclusion as to whether there is a need for a proper
monitoring mechanism in ensuring that public fund is
properly utilized. The methodology used are statutory
and case law analysis. |
|---|