In the Context of Independent Wholesaling Intermediaries,which of the Following

question 158

Multiple Choice

In the context of independent wholesaling intermediaries,which of the following statements is true regarding agents and brokers?

• A)They provide a production facility to a manufacturer on rent.
• B)They help a manufacturer in designing a new product.
• C)They never take title of the goods that they handle.
• D)They buy products from a truck jobber and sell it through the orders placed on the Internet.

---

Definitions:

Constructive Trust

A legal remedy imposed by a court to address wrongdoing or unjust enrichment, creating a fiduciary relationship where the trustee must hold property for the benefit of the beneficiary.

Living Trust

A legal document that places assets into a trust for the grantor's benefit during their lifetime and specifies how to distribute remaining assets after the grantor's death.

Resulting Trust

A trust formed by implication of law when property is transferred under circumstances suggesting the transferor does not intend the transferee to have beneficial interest in the property.

Revocable Living Trust

A legal document that allows an individual to control their assets during their lifetime and specify how these assets are distributed upon their death. It can be altered or revoked.