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Questions and Answers
What is the first certainty required for an express trust to be valid?
What is the first certainty required for an express trust to be valid?
- Certainty as to the Subject Matter
- Certainty of Beneficiaries
- Certainty of Intention/Words (correct)
- Certainty of Trustees
If there is no segregation of the trust fund from other property, what certainty is lacking for the trust to be valid?
If there is no segregation of the trust fund from other property, what certainty is lacking for the trust to be valid?
- Certainty as to the Subject Matter Itself (correct)
- Certainty of Objects
- Certainty of Intention/Words
- Certainty as to the Beneficial Interest
Who must be clear in an express trust regarding the respective shares of the beneficiaries?
Who must be clear in an express trust regarding the respective shares of the beneficiaries?
- Beneficiaries (correct)
- Trustees
- Settlors
- Courts
Which type of trust does not need to fulfill the certainty of objects requirement?
Which type of trust does not need to fulfill the certainty of objects requirement?
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In which scenario would a trust be considered invalid due to lack of certainty as to the beneficial interest?
In which scenario would a trust be considered invalid due to lack of certainty as to the beneficial interest?
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How can a trust be intentionally created by a settlor?
How can a trust be intentionally created by a settlor?
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