Contribution and indemnity-breach of law-trust laws, Financial Accounting

Contribution and indemnity

Generally the trustees are jointly and severally liable to the beneficiaries and a trustee sued may claim contribution from the others where although two or more trustees are liable, one has paid more than his fair share of the loss; or a complete indemnity against -

  1. A trustee who actually committed and obtained the benefit of the breach; or
  2. An advocate trustee who advised the breach; or
  3. A trustee who is also a beneficiary, to the extent of his beneficial interest.
Posted Date: 12/15/2012 12:23:16 AM | Location : United States







Related Discussions:- Contribution and indemnity-breach of law-trust laws, Assignment Help, Ask Question on Contribution and indemnity-breach of law-trust laws, Get Answer, Expert's Help, Contribution and indemnity-breach of law-trust laws Discussions

Write discussion on Contribution and indemnity-breach of law-trust laws
Your posts are moderated
Related Questions
Foreign Currency Translation - Restating foreign currency in equivalent dollars; unrealized losses or gains are postponed and carried in Stockholder's Equity until foreign operatio

The return on investment has been aptly about as a primary ratio as it gives the relative net profit earned on the capital utilized. It is one particular measure where the last out

The purchase of a car needs a $23,410 loan to be repaid in monthly installments for 4years at 12% annual real interest rate. If annual inflation rate is 4%, find the extra amount t

Notice an Rs.50, 000 investment in a one year fixed deposit and rolled over yearly for the subsequently two years.  The interest rate for the primary year is 5 percent  yearly and

Since 1968, Dracula Limited has traded in Doncaster, South Yorkshire as a manufacturer of fancy-dress and theatrical costumes. It produces a wide range of general theatrical costum

Evaluate the following statements, and explain why you agree or disagree. (a)    In a recent interview, a Wall Street investment banker commented on the infrequent use of Prefer

These are the indirect costs that are related with manufacturing. Absorbed costs involve expenses like insurance, or property taxes for the building in which the production process

Heathrow issues $2,000,000 of 6%, 15-year bonds dated January 1, 2011, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $2,447,990.

Financial Statement Analysis Group Project 2 ACCT3303 Spring 2013 Due Date: May 5 (by the end of the day) The specific purposes of this project are: 1. Apply to actual companies th

concept meaning features scope importance origin initiative in india