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:

Futures Contract

A contractual arrangement to purchase or sell a specified asset, like a commodity or financial instrument, at an agreed-upon price on a future date.

Bushels

A unit of volume that is used primarily for measuring quantities of grain.

Soybeans

A type of legume native to East Asia, widely grown for its edible bean which has numerous uses, including oil production and as a protein source in animal feeds and various food products.

Contract Price

The price agreed upon in a contract for the purchase or sale of an asset, service, or other commodity.