If There Is No Time Specified in Contract by the Parties,then

question 56

True/False

If there is no time specified in contract by the parties,then it is presumed that performance shall be completed whenever possible.

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Definitions:

Settlor

The person who creates a trust by transferring assets into the trust for the benefit of the trust's beneficiaries.

Joint Bank Account

A bank account held by two or more individuals, where each account holder has equal access and rights to the funds.

Remaindermen

Individuals who have a future interest in property after the end of a life estate or other particular interest.

Income Beneficiaries

Individuals or entities entitled to receive income generated from a trust, estate, or other financial product.