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. Trustees have a number of different duties to perform. Which of the following is not one of the duties of trustees?

To act with reasonable care and skill correct incorrect

To make a profit for the trust and themselves correct incorrect

To protect the trust funds correct incorrect

Loyalty to the beneficiaries correct incorrect

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. If trustees are in breach of trust their duty is…

To resign from the trust correct incorrect

To pay damages correct incorrect

To put the trust estate back to what it would have been had the breach not been committed correct incorrect

To compensate the beneficiaries for lost opportunities correct incorrect

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. If the trustees are in breach of trust, when can an individual trustee escape liability and blame the other trustees?

If the trustee did not know what the other trustees were doing correct incorrect

One of the other trustees removed the trust property correct incorrect

If the trustee left all the active running of the trust to the other trustees correct incorrect

The other trustees are legally qualified and he/she is not correct incorrect

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. When the beneficiaries sue the trustees for breach of trust or lack of reasonable care and skill, they…

Must sue all the trustees correct incorrect

Must sue only the trustee(s) who are in breach correct incorrect

May sue any trustee(s) that they choose correct incorrect

May sue the trustee(s) as directed by the court correct incorrect

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. What must the trustees have done to be guilty of the theft of trust property?

Understand that they had taken money from a trust correct incorrect

Acted dishonestly by the standards of ordinary and decent people correct incorrect

Realized that what they were doing was dishonest correct incorrect

Acted dishonestly by the standards of ordinary and decent people and realized that what they were doing was wrong correct incorrect

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. The trustees have a defence to being sued for breach of duty, if the beneficiaries consented to the breach. In what circumstances is that consent valid?

If the beneficiaries are adults correct incorrect

If the beneficiaries are no longer living with their parents correct incorrect

If the consent of the beneficiaries is freely given correct incorrect

If the beneficiaries requested the breach of trust correct incorrect

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. Under section 61 of the Trustee Act 1925, the court may relieve a trustee who is in breach of duty from liability if:

The trustee has acted honestly and reasonably correct incorrect

It was the fault of the other trustees correct incorrect

The trustee did not realize that they were doing anything wrong correct incorrect

The trustee has acted on legal advice correct incorrect

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. The normal limitation period to sue for breach of trust is:

Six years correct incorrect

Twelve years correct incorrect

Three years correct incorrect

There is no time limit correct incorrect

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. When is there no statutory time limit, when suing for breach of trust?

When it is a constructive trust correct incorrect

When there has been a breach of fiduciary duty correct incorrect

When it is really a breach of contract and not a trust correct incorrect

When there has been fraud or removal of trust property correct incorrect

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. The doctrine of laches means that…

There is no time limit to commence an action correct incorrect

The claimant will be permitted to sue unless it is unconscionable correct incorrect

The claimant will not be permitted to sue if they delay too long correct incorrect

The claimant will not be permitted to sue if they have told the defendant that they would not do so correct incorrect