Unit – 10 – Quiz

If a person expressed his intention to write his Will in his own handwriting. Such a Will is wholly in the handwriting of the testator is called as

A testator sometimes make two wills one relating to his property in his native country and other relating to his property in some foreign country this type of will is called

A loan which is very popular among the retired professionals is known as

Which of the following trust is founded on an unexpressed but presumed intention of the party creating it?

Indian trusts act 1882 is not applicable to

When the beneficiaries sue the trustees for breach of trust or lack of reasonable care and skill, they

Trusts can avail ___________ from the govt

A ____________ is designed to manage and protect assets for a child until they reach a specified age.

Which of the following company is not classified on the basis of business activities undertaken?

Which of the following types of properties are generally accepted as joint family property

Which is the judicial process whereby a will is proved in a court of law and accepted as a valid public document that is the true last testament of the deceased

A Muslim gentleman can leave his will, bequeathing all his properties to someone other than his legal heirs to the extent of

Which is a gift in the form of a single transfer to the same person of several things of which one is and the others are not burdened by an obligation, the donee can take nothing by the gift unless he accepts if fully?

A system by which a buyer pays for a thing in regular installments while enjoying the use of it. During the repayment period, ownership of the item does not pass to the buyer. Upon the full payment of the loan, the title passes to the buyer is called

Which of the following trust is established by expressions of confidence, request or desire that property will be applied for the benefit of a definite person or object, where such words are construed as constituting a Trust?

Identify the income in respect of which trust can claim straightaway exemption without being spent?

Trustee will assure you that your insurance proceeds are

You wish to protect some of your existing assets in the event your investment fails in a High-Risk Investment. This objective can be achieved by

Under Payments of Gratuity Act, Completed year of service means continuous service for

Income included in the income of family

Codicil means

Which of the following are the necessary contents of a will?
(i) It must be in writing.
(ii) Full name & addresses other attesting witnesses below their signatures.
(iii) It must contain the disposition of the property to take effect after death.
(iv) List of properties making a will.

Which of the following option illustrates an advantage of the probate process?
(i) Protects creditors
(ii) Provides clear title to heir or legatee
(iii) Improves the likelihood mart parties the opportunity to be hear
(iv) Provides for an orderly administration of decedents assets

Which regulatory authority has the power to approve settlement or transfer of assets created abroad in case of an offshore Trust?

The doctrine of laches means that