Under Exceptional Circumstances in Which the Creation of a Trust

question 68

Multiple Choice

Under exceptional circumstances in which the creation of a trust is necessary to effectuate a settlor's intent or avoid unjust enrichment,the law imposes a trust even though no express trust exists.This is known as a(n) ________ trust.

• A)implied
• B)spendthrift
• C)Totten
• D)blind

Understand the characteristics and classification of strategic investments.

Comprehend the concepts of consolidated financial statements and significant influence.

Differentiate between realized and unrealized gains and losses.

Understand reporting and accounting for debt investments.

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Definitions:

Sympathetic

Part of the autonomic nervous system that prepares the body for 'fight or flight' responses, increasing heart rate and blood flow to muscles.

Nervous System

A network of billions of cells in the brain and the body, responsible for all aspects of what we think, feel, and do.

Endocrine System

A network of glands that produce and release hormones into the bloodstream, regulating body processes.

Endocrine System

A network of glands throughout the body that produces hormones regulating important body functions.