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To observe terms of trust Trustees must comply with the trust instrument and the rules of equity; they need not consult the beneficiaries or take instructions from them; but they may not depart from the terms of the trust unless authorised by the court, either: 1. Where a particular transaction is expedient for the trust as a whole, but the trustees have no power to effect it S.56; or
2. Under the Trustee Act, which empowers the Court to sanction any agreement for varying or revoking all or any of the trusts, or enlarging the management and administration powers of trustees on behalf of beneficiaries who are, as yet, unascertained or who are under a disability such as infancy.
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The comparative balance sheets for 2013 and 2012 are given below for Surmise Company. Net income for 2013 was $80 million. SURMISE COMPANY Comparative Balance Sheets December 31, 2
Calculate the market value of Renowned Cola''s debt at year-end 2005. What is the book value of debt? Why do usually use market or book values for debt? Explain.
Evaluate 1-1/3(5/6 - 1/2) ---------------- 2/5 / 2/5(5/6-2/3)
1. Select a publicly traded company (preferably manufacturing oriented; do not use a financial services company such as a bank or a bank holding company) and obtain a copy of their
Statute of Limitations - This sets out the period within that actions may be brought upon claims or within which rights may be enforced. As it concerns to tax returns, statute of l
Morgado Inc. has provided the following data to be used in evaluating a proposed investment project: Initial investment $130,000 Annual cash receipts $78,000 Life of the p
PURPOSE The purpose of this assignment is to provide learners opportunity to discuss the significance of the significance of the accounting principles and the qualitative chara
Clarity and transparency The terms of the payment package must be clear and transparent so that directors and shareholders are in no doubt as to when rewards have been earned o
Carla, Linda, and Terry form a partnership. Carla contributes machinery (that was purchased in 2006 and has an adjusted basis of $45,000 and a fair market value of $70,000) in retu
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