Skip to main content
United States
Jump To
Support
Register or Log In
Support
Register or Log In
Instructors
Browse Products
Getting Started
Students
Browse Products
Getting Started
Chapter 14 Multiple choice questions
Return to Complete Equity and Trusts 5e Resources
Chapter 14 Multiple choice questions
Quiz Content
*
not completed
.
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
*
not completed
.
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
*
not completed
.
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
*
not completed
.
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
*
not completed
.
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
*
not completed
.
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
*
not completed
.
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
*
not completed
.
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
*
not completed
.
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
*
not completed
.
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
Previous Question
Submit Quiz
Next Question
Reset
Exit Quiz
Review & Submit
Submit Quiz
Are you sure?
You have some unanswered questions. Do you really want to submit?
Back to top
Printed from , all rights reserved. © Oxford University Press, 2024
Select your Country