If a Trustee Fails to Comply with the Terms of the Trust

question 33

True/False

If a trustee fails to comply with the terms of the trust or the governing statute, he or she is personally liable for any loss.

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Definitions:

Option Quote

Information about the price of an option contract, including the bid and ask prices, last traded price, and contract specifics.

Market Price

The present cost at which a service or asset is available for purchase or sale.

Put Contract

A financial contract that gives the holder the right, but not the obligation, to sell a certain amount of an underlying asset at a specified price within a specific time period.

Stock Price

The cost of purchasing a share of a company, which fluctuates based on supply and demand, company performance, and market conditions.