Question 1

Identify and provide a detailed description of the participants (parties) in a trust.

(9)points

Question 2

Barbara has been appointed as a trustee in an inter vivos trust, Annababa Trust, that was created by Barbara's sister Annastacia for the benefit of her (Annastacia's) children. Barbara has consented to be appointed as the trustee. The trust deed has been lodged with the Master, but neither Barbara nor Annastacia have received notification of the registration of the trust or received the letters of authority. Barbara enters into an agreement to purchase educational computer software programs on behalf of the Annababa Trust. Explain whether this purchase agreement is legally binding. Substantiate your answer by referring to relevant legislation and case law.

(6)points