An Arrangement in Which Property Is Transferred by One Person

question 58

Multiple Choice

An arrangement in which property is transferred by one person (the grantor, or settlor) to another person for the benefit of a third party (the beneficiary) is called a(n)

• A) trustee.
• B) estate.
• C) settlement.
• D) trust.

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Definitions:

Sustainability

The practice of meeting present needs without compromising the ability of future generations to meet their own needs, typically focusing on environmental conservation, social responsibility, and economic performance.

Future Generations

Refers to the populations that will live in the future, inheriting the legacy of today's societal, environmental, and economic conditions.

Environmentalism

A movement of citizens, government agencies, and the business community that advocates the preservation, restoration, and improvement of the natural environment.

Life Cycle Assessment

A technique for assessing the environmental impacts associated with all the stages of a product's life from raw material extraction through materials processing, manufacture, distribution, use, repair, maintenance, and disposal or recycling.