Which Sections of Trusts of Land and Appointment of Trustees

question 10

Multiple Choice

Which sections of Trusts of Land and Appointment of Trustees Act 1996 allow the settlor to ensure that the consent of the equitable owners is required before the trustees can exercise their powers?

• A) Section 8
• B) Section 10
• C) Section 14
• D) Section 15

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Definitions:

Put Option

A contractual agreement allowing the possessor the choice, not the duty, to dispose of a particular volume of an underlying asset at an agreed-upon rate before a certain deadline.

Strike Price

The predetermined price at which an option's holder has the right to purchase (for a call option) or sell (for a put option) the underlying asset.

Option

An option is a financial derivative that gives the holder the right, but not the obligation, to buy or sell an asset at a predetermined price within a specified timeframe.