Which of the Following Statements Is False

question 5

Multiple Choice

Which of the following statements is false?

• A) Trustees are not normally obliged to provide any reasons for their decisions.
• B) If trustees keep minutes of their meetings, and record in these minutes the reasons for a decision, the beneficiaries can call for a copy of the minutes and so discover the reasons for the decision.
• C) Only in an exceptional case would the trustees be allowed to refuse to disclose the trust instrument to the main class of objects of a discretionary trust.
• D) The trustees are unlikely to be compelled to disclose the contents of a letter written to them by the settlor (but not contained in the trust instrument) providing guidance on the reason for establishing a discretionary trust and how the settlor would like the trustees to approach their decisions.

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Definitions:

Debt-For-Nature Swaps

Financial transactions in which a portion of a developing country's foreign debt is forgiven in exchange for local investments in environmental conservation projects.

Secondary Succession

The ecological recovery process that occurs in an area where the natural vegetation has been removed or destroyed but the soil remains intact.

Large-Scale Ranching

An extensive form of agriculture operation where livestock such as cattle, sheep, or horses are raised on large tracts of land.

National Parks

Protected areas of natural or cultural significance, set aside by governments for conservation purposes and public enjoyment.