Name and Explain the Different Features of Three Types of Trusts

question 7

Essay

Name and explain the different features of three types of trusts and give circumstance where they would be applicable.

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Definitions:

Product Liability Actions

Legal proceedings initiated by consumers against manufacturers or sellers for damages caused by defective or unsafe products.

Retailers

Businesses that sell goods or commodities directly to consumers, typically in small quantities.

Wholesalers

Businesses that buy goods in large quantities from manufacturers and then sell them in smaller amounts to retailers or other businesses.

Foreseeable Plaintiffs

Individuals who could be reasonably expected to be affected by the defendant's actions or negligence and therefore may have grounds to sue.