Which of the Following Is Least Likely to Be Considered

question 9

Multiple Choice

Which of the following is least likely to be considered a valid example of advancement within the statutory power of trustees to make advancements?

• A) Helping a beneficiary with a deposit on their own home.
• B) Helping a beneficiary with living costs while at university.
• C) Paying the debts of a minor beneficiary's parent.
• D) Making a charitable donation on behalf of a beneficiary to a cause which that beneficiary supports.

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Definitions:

Material Breach

A substantial breach of a significant term or terms of a contract that excuses the nonbreaching party from further performance under the contract and gives the nonbreaching party the right to recover damages.

Substantial Performance

A legal concept in contract law where a party has performed enough of their contractual obligation to warrant payment, albeit with minor deviations from the terms.

Nonconforming Goods

Products delivered under a sales contract that do not meet the specifications, quality, or quantity requirements agreed upon by the buyer and seller.

UCC

The Uniform Commercial Code (UCC) is a set of laws that provide legal standards and regulations for commercial transactions and business dealings.