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Questions and Answers
Who is responsible for managing and administering a trust?
Who is responsible for managing and administering a trust?
- Civil Code
- Trustor
- Beneficiary
- Trustee (correct)
What is the term used for the person who establishes a trust?
What is the term used for the person who establishes a trust?
- Trustee
- Beneficiary
- Donor
- Trustor (correct)
In a fiduciary relationship, who justifiably vests confidence, good faith, reliance, and trust in another?
In a fiduciary relationship, who justifiably vests confidence, good faith, reliance, and trust in another?
- Civil Code
- Beneficiary
- Trustee
- Trustor (correct)
What is the term used for the person for whose benefit the trust has been created?
What is the term used for the person for whose benefit the trust has been created?
According to the Civil Code of the Philippines, which party gives the right to hold and invest assets or property on behalf of a third party in a fiduciary relationship?
According to the Civil Code of the Philippines, which party gives the right to hold and invest assets or property on behalf of a third party in a fiduciary relationship?
What is the term used for the person who transfers the property to the trust?
What is the term used for the person who transfers the property to the trust?
According to the Civil Code of the Philippines, who is responsible for managing and administering a trust?
According to the Civil Code of the Philippines, who is responsible for managing and administering a trust?
In a fiduciary relationship, who is known as the beneficiary?
In a fiduciary relationship, who is known as the beneficiary?
What is the term used for the entity with whom the confidence is reposed as regards the management of a property for the benefit of another person/entity?
What is the term used for the entity with whom the confidence is reposed as regards the management of a property for the benefit of another person/entity?
Who gives to a person or organization, known as the trustee, the right to hold and invest assets or property on behalf of a third party in a fiduciary relationship?
Who gives to a person or organization, known as the trustee, the right to hold and invest assets or property on behalf of a third party in a fiduciary relationship?
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