Austin Wakeman Scott (August 31, 1884 – April 10, 1981) was a professor of law at

Harvard University Harvard University is a private Ivy League research university in Cambridge, Massachusetts. Founded in 1636 as Harvard College and named for its first benefactor, the Puritan clergyman John Harvard, it is the oldest institution of higher le ...

who wrote a ten-volume treatise covering many topics of personal

trusts A trust is a legal relationship in which the holder of a right gives it to another person or entity who must keep and use it solely for another's benefit. In the Anglo-American common law, the party who entrusts the right is known as the "settl ...

such as the formation and termination of express trusts, resulting and constructive trusts, and the conflicts of interest encountered in the administration of trusts. Many of Professor Scott's dictums for

fiduciaries A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties (person or group of persons). Typically, a fiduciary prudently takes care of money or other assets for another person. One party, for exampl ...

have been incorporated in the

Uniform Prudent Investor Act ''The Uniform Prudent Investor Act'' (UPIA), which was adopted in 1992 by the American Law Institute's Third Restatement of the Law of Trusts ("Restatement of Trust 3d"), reflects a "modern portfolio theory" and "total return" approach to the exerci ...

(UPIA). His four-volume book, ''The Law of Trusts'', was published in 1939. He graduated from

Rutgers University Rutgers University (; RU), officially Rutgers, The State University of New Jersey, is a Public university, public land-grant research university consisting of four campuses in New Jersey. Chartered in 1766, Rutgers was originally called Queen's ...

in 1903 with an A.B. and received his LL.B. in 1909 from

Harvard Law School Harvard Law School (Harvard Law or HLS) is the law school of Harvard University, a private research university in Cambridge, Massachusetts. Founded in 1817, it is the oldest continuously operating law school in the United States. Each class ...

.New York Times: Obituary
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* 1880s births 1981 deaths American legal writers Harvard Law School faculty Rutgers University alumni Harvard Law School alumni {{US-law-bio-stub