The Conduct of Edie and Floyd Indicate an Intention to Create

question 30

Multiple Choice

The conduct of Edie and Floyd indicate an intention to create a trust. The circumstances raise an inference that Edie is holding legal title to property for Floyd's benefit. This is

• A)not a trust.
• B)a living trust.
• C)a resulting trust.
• D)a constructive trust.

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Definitions:

Factors of Production

The resources used in the production of goods and services, typically categorized into land, labor, capital, and entrepreneurship.

Entrepreneurial Ability

The skill or talent required to conceptualize new products or services, create businesses, and achieve economic success.

Economic Resources

Inputs used in the production of goods and services, often categorized into land, labor, capital, and entrepreneurship.

Budget Line

A graphical representation of all possible combinations of two goods that can be purchased with a given budget at specific prices.