Legal Definitions Quiz: Obligation, Settlement, Trust

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In the context of the Act, what is the meaning of 'obligation'?

Every duty enforceable by law

How is 'trust' defined in the Act?

Having the same meaning as in section 3 of the Indian Trusts Act, 1882

Who does the term 'trustee' include as per the Act?

Every person holding property in trust

Where can one find the meanings of undefined words and expressions used in the Act?

<p>Indian Contract Act, 1872</p> Signup and view all the answers

True or false: 'Settlement' includes a will or codicil as defined by the Indian Succession Act, 1925?

<p>False</p> Signup and view all the answers

True or false: The term 'trustee' includes only individuals holding property in trust as per the Act?

<p>False</p> Signup and view all the answers

True or false: The Indian Trusts Act, 1882 is referenced in the definition of 'trust' in the Act?

<p>True</p> Signup and view all the answers

True or false: The Indian Contract Act, 1872 does not define any words or expressions used in the Act?

<p>False</p> Signup and view all the answers

True or false: 'Obligation' in the Act only refers to duties not enforceable by law?

<p>False</p> Signup and view all the answers

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