A Mobile Ad-Hoc Network (MANET) facilitates communication between nodes whenever & wherever required without any fixed infrastructure. Due to its self-configuring nature, arbitrary topology is formed through wireless links. Such type of Ad-Hoc networks are required at battlefield, rescue operations, during disaster management etc. Although this technology gives a broad range of application in critical conditions, it has its own lacunas. Most importantly, security is the basic issue in this communication mode due to dynamicity of nodes. To ensure secure communication, various types of cryptographic & trust based models have been put forwarded. However, cryptographic methods are not feasible due to intensive computation & low infrastructure network(MANET). Hence trust based models have come in to the existence. The present study includes review on various trust models, with their protocols, advantages & challenges.