Which of the Following Qualities Is Essential in a Trustee

question 125

Multiple Choice

Which of the following qualities is essential in a trustee?

• A)Impartial family member
• B)Possess sound business knowledge and judgment
• C)Partial beneficiary
• D)All of these
• E)None of these

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Definitions:

Material Effect

An impact significant enough to influence a decision, action, or the outcome of a situation, often used in legal and financial contexts.

Misrepresentation

The act of providing false, misleading, or inaccurate information with the intent to deceive or mislead.

Mistake

In legal terms, an erroneous belief, at contracting, that certain facts are true.

Fraudulent Misrepresentation

The act of intentionally making false statements to induce another party into a contract, resulting in harm or loss.