What Is the Following Statements Is Correct About the Operation

question 8

Multiple Choice

What is the following statements is correct about the operation of s.53(1) (b) in relation to trusts an estate or interest in land?

• A) A transaction that is not made or evidenced in writing is void.
• B) A declaration of a trust of land will only be valid if the written evidence contains all the material terms of the trust.
• C) A transaction that is not made or evidenced in writing is voidable.
• D) The declaration of the trust needs to be made in writing to be effective.

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Definitions:

Exports

Goods or services produced in one country and sold to buyers in another, contributing to a nation's gross domestic product.

Balance of Trade Deficit

Occurs when a country's imports exceed its exports during a given time period, indicating that it is spending more on foreign trade than it is earning.

Net Exports

The value of a country's total exports minus its total imports. It is a measure used to calculate a country's aggregate expenditures.

Comparative Advantage

The ability of an individual or economy to produce goods or services at a lower opportunity cost than competitors, leading to more efficient trade and production.