First Principles of Business Law
Business organisations in Australia

4. Trusts

Question 2. How is a trust created, and what legislation applies to trusts?

 

 

 

Read the statements below and select the best one.

(a) A trust can be created without formalities, but it is normal to execute a formal 'deed of trust' when a trust is created to run a business. There is state and territory legislation that governs the operation of trusts.

(b) A trust can only be created by the formal execution of a 'deed of trust', whatever the purpose of the trust. There is Commonwealth legislation that governs the operation of trusts.

 

 

 

 

 

 

 

 

 

Question 1 2 3 4 5 6 7 8
Go to the list of questions in this section Go to the list of topics in this module Choose another module