Hawaii Revised Statutes 558-2 – Purpose
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Terms Used In Hawaii Revised Statutes 558-2
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Trustee: A person or institution holding and administering property in trust.
The purpose of this chapter is to authorize those trusts which incorporate it by reference to convey legal and equitable title to real estate in trust to a qualified trustee; to define the nature and extent of the beneficiaries’ interest in the trust property; to define the obligations of persons dealing with the trustee to inquire into the trustee’s authority; and to provide for disclosure of the identity and interest of the trust beneficiaries.