State whether or not a trust is created in each of the following situations: (a) A declares herself trustee of the bulk of my securities in trust for B. (b) A, the owner of Blackacre, purports to convey to B in trust for C a small part of Blackacre. (c) A owns ten bonds. He declares himself trustee for B
Chapter 51, Problems #1
State whether or not a trust is created in each of the following situations:
(a) A declares herself trustee of ‘‘the bulk of my securities’’ in trust for B.
(b) A, the owner of Blackacre, purports to convey to B in trust for C ‘‘a small part’’ of Blackacre.
(c) A owns ten bonds. He declares himself trustee for B of such five of the bonds as B may select at any time within a month.
(d) A deposits $100,000 in a savings bank. He declares himself trustee of the deposit in trust to pay B $50,000 out of the deposit, reserving the power to withdraw from the deposit any amounts not in excess of $50,000.
(a) A declares herself trustee of ‘‘the bulk of my securities’’ in trust for B.
(b) A, the owner of Blackacre, purports to convey to B in trust for C ‘‘a small part’’ of Blackacre.
(c) A owns ten bonds. He declares himself trustee for B of such five of the bonds as B may select at any time within a month.
(d) A deposits $100,000 in a savings bank. He declares himself trustee of the deposit in trust to pay B $50,000 out of the deposit, reserving the power to withdraw from the deposit any amounts not in excess of $50,000.
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Related Book For
Smith and Roberson Business Law
15th Edition
Authors: Richard A. Mann, Barry S. Roberts
ISBN: 978-0538473637