Explain Knowledge Based Trust

The concept of trust is an idea everyone toys with in their lives at one point. One may think that trust is based of moral values between a trusting relationship. But it can be more complex than many may think. Trust by definition is the “firm belief in the reliability, truth, ability, or strength of someone or something”(1.). To many, it is the bases of a relationship. People trust one another because they teach one another or they love one another. Whatever the case, trust is an essential piece to a relationship. But it’s Implied that both parties don’t take advantage of that trust. This idea is discussed in literature such as in the novel Indian Horse. Throughout Saul’s Journey in the novel Indian Horse he learns about trust by experiencing it as reality then as an illusion and finally as a choice he must make.

What is trust? The dictionary meaning of trust is a firm belief in the reliability, truth, ability, or strength of someone or something. The second meaning is, confidence placed in a person by making that person the nominal owner of property to be held or used for the benefit of one or more others. But what can we really define as trust? In this paper, I will discuss how trust is used every day in different situations, how we deal with trust in various relationships, and how we as individuals practice trust within ourselves.

In this book, trust is defined as “one’s willingness to be vulnerable to another based on the confidence that the other is benevolent, honest, open, reliable, and competent.” (page xiii) The author recognizes that trust is complex and dynamic. She views trust as the “lubricant” that greases the machinery of the organization. Trust is particularly important where parties are interdependent, or the “interests of one party cannot be achieve without reliance upon another.” In schools “teachers and principals are

Trust in an Age of Arrogance is an exemplary articulation of the scriptural truth about the edict of the New Testament and how the expressions of Jesus Christ ought to be taken after, rehearse without compromising it. Bishop Allison nailed down all the fundamental actualities In this book, he investigates the genuine outcomes of supplanting Christianity with secularism and the perils of grandiosity with regards to the Christian life and our salvation.

Pursuant to your request, we have enclosed a copy of the J. David Drielsma and Rosann Drielsma 1996 Revocable Trust dated January 12, 1996, as amended. I have enclosed a copy of the Allocation Agreement for the J. David Drielsma and Rosann Drielsma 1996 Revocable Trust. Both the revocable Survivor’s Trust and the irrevocable Bypass Trust have been funded pursuant to the Allocation Agreement.

A trust can only be enforceable if it is sufficiently certain. The three certainties of a trust must coincide for a trust to become valid. Absence of any of the uncertainties makes a trust invalid from the start. The three certainties are certainty of the subject matter, certainty of intention and certainty of the objects. All these certainties must be established to make a trust valid. The purpose of the certainty requirement of trusts is to ensure compliance with the intentions of the settlor. For a trust to be enforced, there must be an individual who can compel the trustee to enforce the trust. The trust should also be capable of being implemented for the benefit of a beneficiary. The certainty requirement ensures that a trust is capable of being implemented failure to which would render the concept of trusts pointless.

Trusts are frequently used to minimize estate taxes, get professional management of assets, and control funds while providing for minor children. If these features correspond with your overall financial strategy, a trust can be an efficient way to fund a college education.

The Model of Trust Enhancement was established to enhance and maintain the public’s trust in the accounting profession. Over the last two decades, the ethics of the accounting profession has been questioned and public trust destabilized, in particular for auditors, due to the Enron debacle. The fact that an auditing firm would assist their clients with publishing an inadequate set of financial statements shows their willingness to violate laws and regulations (Sims & Brinkmann, 2003). According to the textbook, “Because trust is essential, even the appearance of an accountant’s honesty and integrity is important. The auditor, therefore, must not only be trustworthy, but he or she must also appear trustworthy” (Duska, Duska & Ragatz, 2011, p. 116). The majority of statements filed inadequately have a substantial impact on the credibility of the accounting profession as a whole. Sullivan (n.d.10) states that a CPA must possess a high level of trust, by applying professional judgment and enhancing the three trustworthy characteristics (ability, benevolence, and integrity) when resolving accounting ethics dilemmas (slide 3).

After all the experiences that these kids have gone through, it is safe to say that what they went through will be greater than whatever I go through. These kids were put in a terrible situation at such a young age. Picture this: Your name is Salvador and you live in California. For most of your childhood from age 4-7 you loved everything. You loved basketball, and you played everyday. All that changed in one day. You go to the doctor and they tell you that you have cancer. That was what 13 year old Salvador had to go through. He had to go through chemo for 6-8 weeks, and was in constant pain everyday. Many people would quit at this stage, but Salvador wouldn’t as everyday he looked at his future,

When creating an express trust knight and knight articulated that there must be certainty of subject matter, certainty of intention and certainty of objects.

protecting the property and exclude of their personal interests. In the case York Building Co v. Mac. Kenzie , there was still queries for the whether the situation called trust itself. It was declared that ‘a trustee is who has vested with the property in trust for others’ however, if a man doing a business or in charge and care of any concern is delegated, he has trust in his self too. One of the early usage of the term trust and fiduciary were by a judge in a case which handled between a tenant and a landlord. In this case, the tenant declared as a sort of fiduciary to the landlord and the situation which the law reposed in the tenant, for him to take away the property of the landlord, was a breach of trust.

The first year of an infant’s life can be a time of great joy and learning, developmental growth physically, mentally and emotionally while providing an opportunity for parents to ensure their infant’s needs are being met. In 1965 Erik Erikson developed eight psychosocial growth stages beginning with Stage 1, ‘trust vs. mistrust’, which occurs from birth and throughout the first year of an infant’s life (Candlin 2008, p.76).

In order for interpersonal trustworthiness to exist in organizations, a leader-follower relationship must first exist between the parties involved (Caldwell et al., 2010, p. 500). Once that leader-follower relationship is established, leaders have to earn trust. Leaders earn trust by their respective actions, morals and virtues. Trust is can also be based on past history. If something was done in the past which questions a leader’s values, morals or judgment, it would be unlikely that the leader would be trusted in the future. One of the most important parts of being an effective leader is building and maintaining trust. Trust can further be defined as a “multi-dimensional construct comprising different dimensions of the trustee’s attributes that the trustor evaluates” (Ingenhoff and Sommer, 2010, p. 341).

Low Trust: Ability, benevolence, and integrity are attributes of the trustworthiness of a trustee. Ability refers to the skills, competencies, and characteristics of trustee; benevolence is the extent to which a trustee is believed to do good to the trustor; and integrity is the consistency of the trustee’s past actions and credible communication. These indicators of trust are likely to increase SMEs confidence in cooperation. However, perceived lack ability, benevolence, and integrity demotivate SMEs involvement in cooperation. These is especially when the cooperation firms do not believe each other ability (competences and resources) to fulfil their transactional

Trust is the firm belief in the reliability, truth, ability, or strength of someone or something. From the time, we were born in an infant stage babies interaction with the mother determines whether an attitude of trust or mistrust will be incorporated into his/her personality. When the mother responds to the infant’s physical need and provide ample affection such as love and security, then the infant will develop a sense of trust. Therefore, when the mother is inattentive, resentful or inconsistent in her behavior, the infant develops an attitude of mistrust, and will become anxious and fearful.