Nature of a Trusteeâs Title. It is important in many cases to keep the fundamental nature of the trusteeâs title in mind, remembering that the sine qua non of the trust relationship is the separation of legal and. equitable ownership. The trustee is the legal owner of the property subject to the equitable rights.
A quid is a slang term for an english pound (currency not weight). Bob is slang for an old english shilling. Currently it's 100 pence = one pound. A shilling would be now worth about 5 pence today.
So it is never â500 sterlingâ but the sign in front of a shop can read payments accepted in sterling. Though some people refer to the currency as British Pound, this term is not used in formal situations. Quid is a slang term that is used to refer to money in Britain just as people use bucks for dollars in US.