A Precatory Expression

question 6

Multiple Choice

A precatory expression:

• A) cannot impose a trust because of indefiniteness.
• B) may be so definite as to impose a trust.
• C) does not depend upon the court's interpretation of the intent of the settlor.
• D) is ineffective because it does not use the required words to create a trust.

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Definitions:

Individual Assets

Assets that are identifiable and separate, such as machinery, buildings, or patents, and can be owned and controlled by an entity.

Partnership Liquidates

When a partnership liquidates, it involves the process of dissolving the business, settling debts, distributing remaining assets among partners, and ceasing operations.

Jointly Owned

Owned by two or more parties who share control and rights over the property or asset.

Income Ratio

A financial metric used to measure the proportion of a company's income relative to another financial figure, such as revenue or assets.