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(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.
Propositions as regards the liability of the surety under the surety bond are:
1. The liability of the surety is mutually exclusive of the liability of the accused under his personal bond.
2. The liability of the surety is contingent on the liability of the accused under his personal bond the liability of the surety.
3. is limited to the amount of the surety bond.
Now which of the following is correct
When the liability of a person who is one of the parties to the suit depends upon the liability of a stranger to the suit, then an admission by the stranger in respect of his liability shall be an admission on the part of that person who is a party to the suit. It has been so provided
An agreement which delegates a trustee's powers and duties to another trustee is
The joint liability in respect of joint tort-feasors arises in which one of the following circumstances?
1. Agency, when one person employs another to do an act which turns out to be a tort.
2. Vicarious liability, i.e., the liability arising from relations.
3. Joint action - where two or more persons combine together to commit an act which amounts to a tort.
Select the correct answer using the given below:
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 policy is affected under the MWP Act. If the policyholder does not appoint a special trustee to receive and administer the benefits under the policy, the sum secured under the policy become payable to the _________
Which of the following instances of order are decrees?
1. An order rejecting an application for leave to sue in forma pauperis for no suit has till then been filed
2. An order refusing leave to institute for accounts of religious endowment
3. An order under the Indian Trusts Act, 1882 dismissing an application for the removal of trustee
4. An order on a settlement case under section 104 (2) of the Bengal Tenancy Act 3 of 1898 as the proceeding is instituted not by a plaint but by an application
5. An order made on an application to the District Court under section 84 (2) of the Madras Religious Endowments Act 2 of 1927
Statement I): If the tax liability has been reduced within the legal framework, it is tax planning. Statement II): If tax liability has been reduced to get the benefit of deduction available under the income tax, it is called tax evasion. In the context of the above two statements, which one of the following codes is correct?
Statement (I): If the tax liability has been reduced within the legal framework, it is tax planning.
Statement (II): If tax liability has been reduced to get benefit of deduction available under the income tax, it is called tax evasion.
In the context of the above two statements, which one of the following is correct?