▁The ▁un in cor por ated ▁association ▁is ▁the ▁most ▁common ▁form ▁of ▁organization ▁within ▁the ▁volunt ary ▁sector ▁in ▁England ▁and ▁Wales . ▁This ▁is ▁essentially ▁a ▁contract ual ▁arrangement ▁between ▁individuals ▁who ▁have ▁agreed ▁to ▁come ▁together ▁to ▁form ▁an ▁organization ▁for ▁a ▁particular ▁purpose . ▁An ▁un in cor por ated ▁association ▁will ▁normally ▁have ▁as ▁its ▁gover ning ▁document ▁a ▁constitution ▁or ▁set ▁of ▁rules , ▁which ▁will ▁deal ▁with ▁such ▁matters ▁as ▁the ▁appointment ▁of ▁office ▁bear ers , ▁and ▁the ▁rules ▁gover ning ▁membership . ▁The ▁organization ▁is ▁not ▁though ▁a ▁separate ▁legal ▁entity , ▁so ▁it ▁cannot ▁start ▁legal ▁action , ▁it ▁cannot ▁borrow ▁money , ▁and ▁it ▁cannot ▁enter ▁into ▁contract s ▁in ▁its ▁own ▁name . ▁Its ▁officers ▁can ▁be ▁personally ▁li able ▁if ▁the ▁char ity ▁is ▁su ed ▁or ▁has ▁deb ts . ▁ ▁A ▁trust ▁is ▁essentially ▁a ▁relationship ▁among ▁three ▁parties : ▁the ▁don or ▁of ▁some ▁assets , ▁the ▁trust ees ▁who ▁hold ▁the ▁assets , ▁and ▁the ▁benef ici aries ▁( th ose ▁people ▁who ▁are ▁el ig ible ▁to ▁benefit ▁from ▁the ▁char ity ). ▁When ▁the ▁trust ▁has ▁char itable ▁purposes , ▁and ▁is ▁a ▁char ity , ▁the ▁trust ▁is ▁known ▁as ▁a ▁char itable ▁trust . ▁The ▁gover ning ▁document ▁is ▁the ▁trust ▁de ed ▁or ▁declaration ▁of ▁trust , ▁which ▁comes ▁into ▁operation ▁once ▁it ▁is ▁signed ▁by ▁all ▁the ▁trust ees . ▁The ▁main ▁dis adv antage ▁of ▁a ▁trust ▁is ▁that