A Distinguishing Feature Between the Making of an Inter Vivos

question 77

Multiple Choice

A distinguishing feature between the making of an inter vivos gift and the creation of a trust is that:

• A)a gift may be made orally whereas a trust must be in a signed writing.
• B)a gift is irrevocable whereas a trust may be revoked in certain cases.
• C)to create a valid trust,the creator must receive some form of consideration.
• D)the beneficiary of a trust must be notified of the trust's creation.

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Definitions:

Competitive Pressures

The challenges and forces that businesses face from rivals in the market, pushing them to improve, innovate, and efficiently manage resources.

Information Technology

The use of computers, storage, networks, and other physical devices, infrastructure, and processes to create, process, store, secure, and exchange all forms of electronic data.

Contingency Thinking

A management perspective that considers the outcomes of actions to vary depending on the internal and external conditions.