Clarence Is the Trustee of a Trust

question 13

Essay

Clarence is the trustee of a trust.With $75,000 of his own money,Clarence purchases a parcel of real estate.Two months later,he sells the parcel to the trust for $150,000 and pockets the profit.Discuss the situation in terms of the duties and powers of the trustee.

Recognize social trends such as health and wellness, sustainability, and how they influence marketing initiatives.

Describe the characteristics of generational cohorts and their importance to marketers.

Understand the changing landscape of income distribution in the United States and its implications for marketing.

Recognize the importance of education level, occupation, and income in consumer marketing.

---

Definitions:

Employers

Individuals or organizations that hire people to perform work in exchange for compensation.

Supremacy Clause

Article VI, Section 2 of the U.S. Constitution, which allows a Supreme Court ruling to be binding on state courts if involving a constitutional issue. The clause reads: “This Constitution, and the Laws of the United States which shall be made in pursuance thereof; and all treaties made, or which shall be made, under the authority of the United States, shall be the supreme law of the land; and the judges in every state shall be bound thereby, anything in the Constitution or laws of any state to the contrary notwithstanding.”

Laws

The system of rules that a country or community recognizes as regulating the actions of its members and may enforce by the imposition of penalties.

Congress

The national legislative body of a country, particularly in the United States, responsible for making laws.