Which one of the following is not necessary for the creation of trust?
A. The author of trust
B. Trustee
C. Legal representative
D. Beneficiary
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Tracing is a claim
A. In rem
B. In personam
C. In rem in general but in personam in exceptional cases
D. In rem in exceptional cases but in personam in general
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Trustees may be appointed except
A. Under a power contained in the instrument of trust
B. By the consent of the beneficiary
C. By the Court
D. Under a statutory power
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The Indian Trust Act shall apply to
A. The law relating to private trusts and trustees
B. Mutual relations of the members of an undivided family
C. Public or private religious or charitable endowments
D. Trusts to distribute prizes taken in war among the captors
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Which section of the Indian Trusts Act provides that trust money can be invested by the Trustee
A. Section 17
B. Section 20
C. Section 24
D. Section 22
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Can a beneficiary transfer his interest?
A. Yes
B. No
C. Only if he is competent to contract
D. None of the above
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Where property is bequeathed and the revocation of the bequest is prevented by coercion, the legatee must hold the property for the benefit of the . . . . . . .
A. Trustee
B. Beneficiary
C. Testator's legal representative
D. None of the above
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Choose the wrong statement.
A trustee who has accepted the trust cannot afterwards renounce it, except
A. With the permission of a principal Civil Court of original jurisdiction
B. If the beneficiary is competent to contract, with his consent
C. By virtue of a special power in the instrument of trust
D. With the written authorization from the author of the trust
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The power of appointment of new trustee is exercisable in all, but one
A. Where the trustee is dead
B. Where he accepts an inconsistent trust
C. Where he remains out of India for a continuous period of 1 year
D. Where he refuses to act
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Under which section of the Trust Act, 1882 the definition of the breach of trust is provided?
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Rights of beneficiaries are provided under
A. Sections 51 to 65 of the Indian Trust Act
B. Sections 53 to 67 of the Indian Trust Act
C. Sections 55 to 69 of the Indian Trust Act
D. Sections 57 to 71 of the Indian Trust Act
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Which section of the Indian Trusts Act, 1882 deals with liability for breach of trust?
A. Section 23
B. Section 24
C. Section 25
D. None of the above
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A, a trustee for B of Rs 10,000 wrongfully invests Rs 10,000 in the purchase of certain land. Is B entitled to the land?
A. Yes
B. No
C. Depends
D. None of the above
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An agreement which delegates a trustee's powers and duties to another trustee is
A. Valid
B. Void
C. Voidable
D. None of the above
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In which of the following cases did the Supreme Court hold that 'no trustee can get a discharge, unless he renders account of his management and this liability is irrespective of any question of negligence or willful default'
A. VLNS Temple v. I. P. Reddy
B. Chiranjit Lal v. Haridas
C. K. C. Joshi v. Union of India
D. None of the above
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A trust created by the will of the testator may be revoked by him at his pleasure
A. By express words
B. By acts which lead to the inference that he intended to revoke it
C. By subsequent will
D. In case of person governed by the Hindu Marriage Act by the marriage of the testator
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The enactments relating to trust in India are all, but one
A. The Indian Trust Act
B. The Limitation Act
C. The Waqf Act
D. The Sale of Goods Act
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Choose the correct answer
(1) A trustee may also be a beneficiary and can be the sole beneficiary
(2) A trustee may also be a beneficiary, but cannot be the sole beneficiary
(3) A donor may also constitute himself a trustee, and though remaining in possession, may transfer legal possession by declaring his possession as donee's.
(4) A donor may also constitute himself a trustee, and though remaining in possession, cannot transfer legal possession by declaring his possession as donee's.
A. (1), (3)
B. (1), (4)
C. (2), (3)
D. (2), (4)
Select an option to see the answer and solution.
Liability for breach of trust has been provided in
A. Section 23 of the Indian Trust Act
B. Section 22 of the Indian Trust Act
C. Section 24 of the Indian Trust Act
D. Section 25 of the Indian Trust Act
Select an option to see the answer and solution.
Constructive trusts arises
A. Where property is transferred in pursuance of a contract which is liable to rescission
B. Induced by fraud or mistake
C. Both (A) and (B)
D. Either (A) or (B)
Select an option to see the answer and solution.