<p>This treatise introduced the concept of &ldquo;trust estates as business companies.&rdquo; It provides a trenchant practical description of the law of trusts and historical perspectives into the origin of the modern &ldquo;Massachusetts Business Trust&rdquo; arguably the only common-law method of business organization available with limited liability for the organizers. It also treats income taxation in a way that is relevant today &ldquo;Common Law Companies&rdquo; &ldquo;Business Trusts&rdquo; Voluntary Associations&rdquo; and relevant Massachusetts and Oklahoma statutes. The second edition is a significant update to the original 1912 edition which was considered a pioneering work in the field.&nbsp; xx 782 pp.</p>
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