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PROTECTIVE TRUSTS
The income of property may be settled on such terms as to restrict its availability to creditors of the beneficiary in the following ways:(a) Determinable interests:In this case the interest of the beneficiary ceases on alienation or bankruptcy. Note that a person cannot settle property on himself until bankruptcy since this would defeat the claims of his creditors.
(b) Discretionary trusts:In this case the trustees have a complete discretion whether to pay the income to the beneficiary or not.
(c) Protective trustsIf income is settled on "protective trusts", this operates to give –
prepare your recommendation on Agarwal cast company
Agreements to settle property The trustee is not bound by such an agreement if it remains executory. If property has already been settled, the trustee can recover it unless it
premium coupons that already have been expired should be or shouldn''t be estimated as liability?
The Caltor Company gathered the following condensed data for the Year Ended December 31, 2010. Cost of goods sold $ 710,000 Net sales 1,279,000 Administrative expenses 239,000 I
IAS 1 rules IAS 1 requires companies to observe the following rules in preparing published financial statements: 1) The financial statements should reflect a true and fair v
like Amazon.com face with respect to safeguarding its assets? What types of controls do you think it already has in place to minimize these risks?
Individuals commonly prefer possession of cash immediately or in the present moment quite than the same amount at any time in the future. Such time preference is fundamentally due
We consider two identical firms that produce the same good. The demand for that good is the function D(p) = 1 - p where p is the unit price. Firms incur no cost. The competition
1. Assume that the money market is initially in equilibrium for an economy. Explain with the aid of a diagram how the market adjusts to (i) an increase in money supply (ii
what are methods of calculating depreciation?
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