What type of trust, where the settlor must clearly intend to create a trust, has the following four elements: (1) a settlor, (2) a trustee, (3) trust property,and (4) at least one beneficiary?
a. Express trust
b. Implied trust
c. Testamentary trust
d. Living trust
a
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Fred, the owner and manager of Green Grocer Store, contracts to buy sixty crates of fresh peaches from Holly, the owner and manager of Ideal Farms. Suppose that Holly dies before she can harvest and deliver the peaches. How does Holly's death affect their contract? If Holly does not die, but does not deliver, and Fred suffers a loss, is there any limit to the time within which Fred can file a suit against Holly for breach of contract? If so, how might Fred extend this time?
What will be an ideal response?
Changes in benefit plans are under "serious consideration" when:
a. top managers meet to discuss implementation of a specific plan b. the employer has firmly committed to offering the revised benefit plan c. information has been gathered regarding alternative plan options d. all of the above e. none of the above
Given positive equal annual cash flows and a positive interest rate, the future value of an annuity will be greater than the sum of the cash flows
Indicate whether the statement is true or false.
Harry bought preferred noncumulative stock on which there were no dividends declared for the year. The dividends that were not declared for the year will:
A) be paid the next year. B) be paid upon the next declaration of dividends. C) be paid out of the common stock dividend fund. D) not be paid.