Define a constructive trust and the duty it imposes on the constructive trustee.
What will be an ideal response?
A constructive trust is a trust created by operation of law to avoid fraud, injustice, or unjust enrichment. This type of trust imposes on the constructive trustee a duty to convey property she holds to another person on the grounds that the constructive trustee would be unjustly enriched if she were allowed to retain it.
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Which of the following is an example of a credit memorandum?
a. Service charge notice b. Collection of a note receivable by the bank c. Outstanding check d. Company error in recording a $600 deposit as $500
Which of the following actions should a global marketer consider to counter the country stereotyping problem in global markets?
A) export products without any modifications B) restrict production to home country C) develop an international image D) sell products at below-market prices
In 2015, the Rachel Company initiated a defined benefit pension plan. It recorded $240,000 as pension expense and paid $280,000 to a funding agency. As a result, Rachel will report
A) pension assets of $280,000 and pension liabilities of $240,000. B) an accrued liability of $50,000. C) service cost of $280,000 and unfunded prior service cost of $40,000. D) prepaid pension cost of $40,000.
Which learning method incorporates the following: a small group of 4 and 8 individuals who attempt to solve real-life problems, using reflection as well as a facilitator?
a. groupthink b. management development c. discovery learning d. action learning