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List the Four Major Methods of Agency Compensation and Briefly

question 104

Essay

List the four major methods of agency compensation and briefly each describe.Outline any advantages or disadvantages associated with each system.


Definitions:

Codicil

Some addition to or qualification of one’s last will and testament.

Amendment

A modification, change, or addition to a legal document or statute.

Cy Pres Doctrine

A legal principle that allows a court to amend the terms of a charitable trust or gift if its original purpose becomes impossible or impracticable to achieve.

Settlor

A person who creates a trust. Also called trustor.

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