Which of the Following Statements Is True in Relation to Trustee's

question 1

Multiple Choice

Which of the following statements is true in relation to trustee's powers of maintenance under the Trustee Act 1925, s.31?

• A) The statutory power of maintenance allows the trustees to pay for the essentials of life only.'
• B) The statutory power of maintenance would not allow the trustees to pay private school or university tuition fees.
• C) The statutory power of maintenance allows the trustees to make payments directly to the minor, or to others on the minor's behalf.
• D) The statutory power of maintenance does not allow the trustees to make payments to a minor's parent because of the potential for fraud.

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Definitions:

Price Wars

A competitive exchange among rival companies where prices are successively lowered to undercut competitors, often leading to reduced profit margins.

ATC Curve

Average Total Cost Curve, a graphic representation that shows the cost per unit of output produced.

Barriers to Entry

Factors that make it difficult for new firms to enter a market, such as high startup costs, stringent regulations, or strong competition from existing firms.

Administered Prices

Prices that are set by the company rather than determined by market demand and supply conditions; often found in less competitive markets.