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BREACH OF TRUSTRemedies available to beneficiary: Injunction, Personal action, Criminal liability.Defence of trusts: He may be relieved from liability if, in the opinion of the court, he acted honestly and reasonably and ought to be excused; He may also be released by any beneficiary, being sui juris and with knowledge of the facts, from liability to that beneficiary only.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.
Molina Medical Supply Company is trying to decide whether or not to continue distributing hospital supplies. The following information is available for Molina's business segments.
In the current year, Madison Corporation had $50,000 of taxable income at a tax rate of 25%. During the year, Madison began offering warranties on its products and has a warranty l
Refer to the Consolidated Statements of Shareholders' Equity (pp. 62-63), Consolidated Statements of Cash Flow, including an abstract from Note 2, Cash Flow Information (pp. 61 and
In assessing project risk it is significant to be clear about the meaning of risk. From an academic perspective risk demotes to a set of circumstances regarding a given decision wh
Settlement Method - Method of ACCOUNTING for SECURITIES whereby transactions are recorded on the date securities settle by delivery or receipt of securities and receipt or payment
According to the Solow model, how would each of the following affect consumption per worker in the long run (i.e. in the steady state)? Draw a figure and explain. a. The destruc
Equation illustrates the relationship in between PVA n , A, K and n. So manipulating this a bit: We find that A = PVA n [(k (1 + k) n )/((1 +k) n - 1)] [(k (1 + k) n )/(
Trust - Ancient legal practice where one person (GRANTOR) transfers the legal title to an ASSET, known as principal or corpus, to another person (the TRUSTEE), with specific instr
Q. Stock dividends and stock splits have the following effects on retained earnings: Stock Splits Stock Dividends a. Increase No change b. No change Decrease c. Decrease Decrease d
QUESTION 1: Part A Malcolm was in business as an import merchant and the following balances were extracted from his books on 31st December 2003: Purchases
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