An Express Trust Is a Trust

question 49

Multiple Choice

An express trust is a trust:

• A)established by law through the courts when the parties' conduct seems to warrant the creation of a trust.
• B)established by voluntary action.
• C)represented by a written document, oral statements, or the conduct of the settlor.
• D)All of the above.
• E)Both (b) and (c).

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Definitions:

Earrings

Jewelry worn on the earlobe or through another part of the ear, typically as a form of personal adornment.

Income

The monetary payment received by an individual or household from various sources like work, investments, or transfers, over a specified period.

Consumer's Surplus

The difference between the total amount consumers are willing and able to pay for a good or service and the total amount they actually pay.

Demand Function

The demand function is a mathematical representation that describes the quantity of a good that consumers are willing and able to purchase at various prices.