Which of the Following Is One of the Requirements for Forming

question 9

Multiple Choice

Which of the following is one of the requirements for forming an express trust?

• A) The settlor need not necessarily attain the age required by state law for the creation of valid wills and contracts.
• B) The trust cannot be created for a reason that is contrary to public policy.
• C) The settler must name a trustee for the trust and a substitute trustee in the event the named trustee refuses to act.
• D) The beneficiaries cannot be members of a specific class, such as "my children."

---

Definitions:

Tariff

A tax imposed by a government on imported or exported goods to control trade flows, raise revenue, or protect domestic industries.

United States

A country in North America comprising 50 states, known for its significant influence on global economics and politics.

Domestic Supply

The total amount of a product or service that is produced within a country and available for purchase by the domestic market.

Demand

The quantity of a good or service that buyers are willing and able to purchase at various prices at a given time.