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Which Statement Is NOT True of RBCs

question 152

Multiple Choice

Which statement is NOT true of RBCs?


Definitions:

Gratuitous Basis

A voluntary action carried out without the expectation of payment or compensation.

Unconscionable

A term applied to a contract in which one party has so much more bargaining power than the other party that the powerful party dictates the terms of the agreement and eliminates the other party’s free will.

Constructive Trust

An equitable trust imposed on a person who wrongfully obtains or holds legal right to property he or she should not possess.

Equitable Trust

A fiduciary relationship wherein one party, known as the trustee, holds assets for the benefit of another party, the beneficiary, according to equitable principles of fairness.

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