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A Discretionary Family Trust is one of the most common small business structures in _____________. It can operate upto ____________ in the same.

A.

India, 100 years

B.

Gujarat, 80 years

C.

USA, 100 years

D.

Australia, 80 years

Which of the following Trust is employed by the law as an “Equitable Remedy”?

A.

Discretionary Trust

B.

Non-Discretionary Trust

C.

Express Trust

D.

Constructive Trust

Which of the following statement(s) about Precatory Trust is/are correct?

A.

Only (i)

B.

Only (ii)

C.

Neither (i) or (ii)

D.

Both (i) and (ii)

Which of the following trusts is considered invalid by the courts?

A.

Purpose Trust

B.

Spendthrift Trust

C.

Pour-Over Trust

D.

Unit Trust

In order to form a Society, at least ___________ persons are required.

A.

10

B.

2

C.

7

D.

100

Which of the following statements about Discretionary Family Trust is/are correct?

A.

Both (i) and (ii)

B.

Only (i)

C.

Only (ii)

D.

Neither (i) nor (ii)

Which of the following cannot form a Trust?

A.

A Minor

B.

An HUF through its Karta

C.

Both of the above

D.

None of the above

Which of the following statement(s) about UTMA is/are correct?

A.

Neither (i) or (ii)

B.

Both (i) and (ii)

C.

Only (i)

D.

Only (ii)

The Societies Registration Act came into force on _____________________

A.

24th May,1860

B.

24th May,1862

C.

21st May,1860

D.

21st May,1862

______________ of the Transfer Property Act permits the transfer of property only to one or more living persons.

A.

Section 1

B.

Section 5

C.

Section 8

D.

Section 10