Under the Doctrine of Cy Pres,the Trust Will Not Fail

question 14

True/False

Under the doctrine of cy pres,the trust will not fail if the settlor indicated a general intention to devote the property to charitable purposes.

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Definitions:

Credit Sales

Sales made by a business for which payment is received at a later date, extending credit to the buyer.

Cash Collections

are the payments received by a company from its customers in exchange for goods or services sold on credit.

Cumulative Surplus

The total amount of net income that a company retains over its life, after distributing dividends to shareholders.

Minimum Cash Balance

Minimum Cash Balance is the lowest amount of cash that a company seeks to maintain in its accounts to ensure financial stability and meet immediate operational needs.