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EXPRESS TRUSTS
Creation:An express trust is "created not by facts and circumstances, but by the express words of the settlor". (Fitzgerald v Stewart)Completely and incompletely constituted trusts:In all cases the trust must be completely constituted. A trust is completely constituted when the trust property has been vested in trustees for the benefit of the beneficiaries. Where there is merely a contract or covenant to create a trust, the trust is said to be incompletely constitutedForm:No special form is normally required for the creation of a trust except that a declaration of trust respecting land or any interest therein must be manifested and proved by some writing signed by some person who is able to declare such trust The three certainties:A trust will be valid only if the three certainties are present i.e. certainty of words, certainty of subject, and certainty of objects.
Absence of the certainties
AsIDENTIFY THE MAIN PROVISIONS OF THE PARTNERSHIP ACT k question #Minimum 100 words accepted#
agency conflicts and solutions in shareholders vs auditors
What is financial Accounting
Determine out the future value of Rs.1000 compounded yearly for 10 years at an interest rate of 10 percent. Solution: The future value 10 years thus would be FV = PV (1+k)
Write down what processes and data you would analyse when looking at the following scenarios and write down any improvements you could include to ensure that the problem would be l
SURVIVORSHIP POLICY The partners may take out a survivorship policy to safeguard against future cashflow problems incase a partner dies or the business is dissolved. E.g. incas
Final accounts 1) Examination questions – two types of problems arise in examinations: transfers between head office and branch are made at cost; or Transfers bet
Q. Example on investment appraisal method ? Contribution per unit = 3·00 - 1·65 = $1·35 per unit Total annual contribution = 20000 × 1·35 = $27000 per year Annual cash fl
(a) IFRS 8 Operating segments requires that segmental information be provided by listed entities. Clearly FGH is looking to list and hence IFRS 8 will be applicable. The disclosure
The Budvar Company purchases parts from a foreign customer on December 1, Year 1, with payment of 20,000 crowns 20,000 crowns to be made on March 1, Year 2. Budvar enters into a f
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