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Trust Termination, Trustee Final Accounting

Unless there are specific terms in a trust document providing otherwise, a trust terminates and ends generally when the “trustee gives a final accounting and conveys the trust property to the beneficiaries.”¬†Shannon v. Johnson, 741 S.W.2d 791, 794 (Mo. Ct. App. 1987). A trust’s termination date is important for numerous reasons, not the least of […]

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Breach of Contract Cures, Contract Termination

Contracts will often include “cure” provisions to prevent a party from immediately canceling or terminating a contract in the event of breach. Moreover, as is the case with more complex or lengthy contracts, a “cure” provision allows a party to correct an inadvertent breach of contract.¬† A cure clause usually states that the non-breaching party […]

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