A Trust Is a Legal Entity Whose Purpose Is to Hold

question 71

True/False

A trust is a legal entity whose purpose is to hold and administer property for the benefit of beneficiaries.

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Definitions:

Unanimous Opinion

A judicial decision or legal opinion in which all the judges or justices agree on the outcome and reasoning.

Memorandum

A written message or note, often informal, used within an organization or between organizations to communicate information.

Precedent

A legal principle or rule established in a previous court case that is either binding on or persuasive for a court when deciding subsequent cases with similar issues or facts.

Federal Supplement

A series of law reports containing the decisions of Federal District Courts in the United States.