Test Bank for Essentials of Business Law and the Legal Environment 14th Edition By Richard Mann, Barry Roberts

Test Bank For
Essentials of Business Law
and the Legal Environment
14th Edition By Richard
Mann, Barry Roberts (All
Chapters 1-50, 100% Original
Verified, A+ Grade)
All Chapters Arranged
Reverse: 50-1
This is The Original Test Bank
For 14th Edition, All other
Files in The Market are Fake/
Old/Wrong Edition

,Name Clas Dat
: s: e:

Chapter 50 Trusts and Wills
True / False

1. A trust for the dissemination of a particular political doctrine cannot be a charitable trust.
a. True
b. Fals
e
ANSWER: Fals
e

2. An express trust may be found if the intent of the grantor to create a trust is unmistakable.
a. True
b. Fals
e
ANSWER: True

3. A trust may serve any purpose that is not illegal or against public policy.
a. True
b. Fals
e
ANSWER: True

4. A Totten trust is irrevocable, even by the creator.
a. True
b. Fals
e
ANSWER: Fals
e

5. Constructive trusts are generally found where the creator clearly intended a trust to be formed.
a. True
b. Fals
e
ANSWER: Fals
e

6. The powers of a trustee are determined solely by the trust instrument.
a. True
b. Fals
e
ANSWER: Fals
e

7. Consideration is not necessary to enforce a trust.
a. True
b. Fals

Copyright Cengage Learning. Powered by Cognero. Page 1

,Name Clas Dat
: s: e:

Chapter 50 Trusts and Wills
e
ANSWER: True

8. A minor's declaration of trust is voidable.
a. True
b. Fals
e
ANSWER: True

9. Creditors of the beneficiary of a spendthrift trust can attach the income of the trust before or after the beneficiary
receives it, but they cannot reach the trust fund itself.
a. True
b. Fals
e
ANSWER: Fals
e

10. A person’s written statement that they are leaving property “to Mikayla in full confidence and with hope that Mikayla
will take care of Tina” is too indefinite to create a trust.
a. True
b. Fals
e
ANSWER: Fals
e

11. The courts may create implied trusts.
a. True
b. Fals
e
ANSWER: True

12. A trust is presumed to be irrevocable unless the grantor reserves the power of revocation.
a. True
b. Fals
e
ANSWER: True

13. The death of the beneficiary will generally terminate the trust.
a. True
b. Fals
e
ANSWER: Fals
e

14. There is no such thing as an irrevocable will.

Copyright Cengage Learning. Powered by Cognero. Page 2

, Name Clas Dat
: s: e:

Chapter 50 Trusts and Wills
a. True
b. Fals
e
ANSWER: True

15. A resulting trust depends on a contract or agreement as evidenced by the parties' acts.
a. True
b. Fals
e
ANSWER: Fals
e

16. A witness to a will who is "interested" will be disinherited or disqualified.
a. True
b. Fals
e
ANSWER: True

17. In most states, there is no lower age limit for testators as long as they understand the extent of their property.
a. True
b. Fals
e
ANSWER: Fals
e

18. A codicil to the will must be executed with all the formal requirements of a will.
a. True
b. Fals
e
ANSWER: True

19. If a will was burned in an electrical fire that destroyed the testator's home, it will be presumed to be revoked.
a. True
b. Fals
e
ANSWER: Fals
e

20. A second will automatically revokes an earlier will if it is wholly inconsistent.
a. True
b. Fals
e
ANSWER: True

21. Divorce or marriage will result in a revocation of a will.
Copyright Cengage Learning. Powered by Cognero. Page 3