A Trust Will Fail for Lack Of

question 40

Multiple Choice

A trust will fail for lack of:

• A) consideration.
• B) a trustee.
• C) definite and specific property forming the trust corpus.
• D) All of these.

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Definitions:

Firms

Business organizations that produce goods or offer services, typically with the aim of generating profit.

Resources

Inputs or factors that are used in the production of goods and services, such as land, labor, capital, and entrepreneurship.

Demand for Carpenters

The market need or desire for carpentry skills and services.

Wages

Payments made to employees in exchange for their labor, typically calculated on an hourly, daily, or piecework basis.