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Tom is trustee of a trust established for the benefit of Barbara. Barbara discovered that Tom had recently sold a rare first edition book that
Tom is trustee of a trust established for the benefit of Barbara. Barbara discovered that Tom had recently sold a rare first edition book that was part of the corpus of the trust to his wife Wilma for its fair market value of $5,000. Wilma had then given the rare book to her sister Sally as a birthday gift. Sally was unaware the rare book had been a part of the corpus of the trust. If Barbara files suit seeking return of the book, will Barbara prevail? Question 5 options: a) Yes, because Tom breached his duty of loyalty to the trust. b) Yes, but only if the trust documents instructed Tom not to sell the rare book. c) No, because Sally is a bona fide purchaser. d) No, because Tom sold the rare book for its fair market value
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