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‘Specific purpose’ refers to which of the following?
A purpose that is either actually or specifically designed in the terms in which the trust is created
A purpose which from the specified terms can be certainly affirmed
either (A) or (B)
None of these
- Option 1: Refers to a purpose specifically designed in the trust's terms. This means the purpose is clearly articulated when the trust is created.
- Option 2: Refers to a purpose that can be confirmed from the trust's terms. It suggests clarity and certainty in the purpose's definition.
- Option 3: Combines aspects of both Option 1 and Option 2. It means the purpose is either explicitly designed or can be certainly affirmed from the trust's terms.
- Option 4: None of these. Indicates that neither of the options define 'specific purpose.'
The correct answer is Option 3: either (A) or (B)
By: Parvesh Mehta ProfileResourcesReport error
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