Those Who Could Use Trust Services Include All the Following

question 141

Multiple Choice

Those who could use trust services include all the following except

• A) minors
• B) busy executives
• C) the mentally incompetent
• D) spendthrifts
• E) all the above need trust services

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Definitions:

Personal Property Security Act

Legislation that governs the creation and registration of security interests in personal property to secure payment or performance of an obligation.

Repossessed

The act of taking back goods or property by a seller or lender from the buyer or borrower due to non-compliance with the terms of the sale or loan.

Resold

The act of selling an item or property again, especially after purchasing it from the original seller.

Registration

A legislated requirement for incorporating a company in some jurisdictions in Canada.