Duty Virtute Officii

Business, Legal & Accounting Glossary

Definition: Duty Virtute Officii

Full Definition of Duty Virtute Officii

A duty owed by a trustee to the beneficiaries of a trust, one arising out of his office as trustee. An example would be a trustee’s obligation, in the case of a discretionary trust, to distribute income from the trust amongst its beneficiaries. The term ‘virtute officii’ implies that the duty will pass to a new trustee should the current trustee be replaced. In contrast, a ‘personal duty’ is one owed by a named individual. An example would be the duty of a donee, accompanying any conferred power in the nature of a trust, to exercise his power of appointment.

See also trustee, donee, power of appointment, power in the nature of a trust.

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Modern Language Association (MLA):
Duty Virtute Officii. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. September 27, 2021 https://payrollheaven.com/define/duty-virtute-officii/.
Chicago Manual of Style (CMS):
Duty Virtute Officii. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/duty-virtute-officii/ (accessed: September 27, 2021).
American Psychological Association (APA):
Duty Virtute Officii. PayrollHeaven.com. Retrieved September 27, 2021, from PayrollHeaven.com website: https://payrollheaven.com/define/duty-virtute-officii/

Definition Sources

Definitions for Duty Virtute Officii are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 5th April, 2020 | 5 Views.