To observe terms of trust-trusts laws and accounts, Financial Accounting

To observe terms of trust
Trustees must comply with the trust instrument and the rules of equity; they need not consult the beneficiaries or take instructions from them; but they may not depart from the terms of the trust unless authorised by the court, either:
1. Where a particular transaction is expedient for the trust as a whole, but the trustees have no power to effect it S.56; or

2. Under the Trustee Act, which empowers the Court to sanction any agreement for varying or revoking all or any of the trusts, or enlarging the management and administration powers of trustees on behalf of beneficiaries who are, as yet, unascertained or who are under a disability such as infancy.

Posted Date: 12/15/2012 12:12:50 AM | Location : United States

Related Discussions:- To observe terms of trust-trusts laws and accounts, Assignment Help, Ask Question on To observe terms of trust-trusts laws and accounts, Get Answer, Expert's Help, To observe terms of trust-trusts laws and accounts Discussions

Write discussion on To observe terms of trust-trusts laws and accounts
Your posts are moderated
Related Questions
Problem on balance sheet: At the beginning of 20X2, Dahl Ltd. acquired 8% of the outstanding common shares of Tippy Ltd. for $400,000. This amounted to 80,000 shares.  At th

A village ordered supplies for its Fire Department at an estimated cost of $16,700. The supplies were received with an invoice for $16,800. The village accepted the shipment and th

As an investor, you are considering buying stock in a relatively new company. Medical Horizons, Inc., has been in existence for 10 years and is now about to go public. The first st

On May 15, 2010, Your Corporation acquired an airplane (5 year recovery period, 6 year class life) for $1,450,000. Its qualified business use is 54%. Determine the maximum cost rec

The income elasticity of money demand is 2/3. Real income is expected to grow by 4.5% over the next year, and the real interest rate is expected to remain constant over the next ye

FV of Bond 20000, CR 0.045, MR 0.059, Remaining payments 32. Answer

Mr. Inherits 30000. Decides to open a salon jj salon. On 1/4/2016 commits 10000 to the business Opens an a/c in the bank What will be the money under capital in his books on 1/4/10

Which of the following was the first private sector entity that set accounting standards in the United States? a. Accounting Principles Board b. Committee on Acocounting Procedure

Can you help me balance my account number out

Q. What is primary financial purpose? The primary financial purpose of a company is typically stated to be the maximisation of shareholder wealth and Sassone plc has declared p