1
Q
memorize table pg 37
A
2
Q
list (4)
remedies for breach of trust
A
- ct enforces specific performance of trustee’s duties
- enjoin trustee from committing breach
- compel trustee to pay money or restore property
- suspend or remove trustee
3
Q
list (2)
damages trustee gives to B for breach
A
Trustee liable to B for the greater of:
- amount necessary to restore trust property
- trustees profit from breach
4
Q
list (3)
if trustee engages in self-dealing, B can
A
- affirm transaction if trust profited
- set aside transaction if trust lost money
- trace profit from trustee if trustee profited
5
Q
list (4)
when trustee is not liable for breach
A
- T acted in reasonable reliance on terms of trust
- B consented to conduct
- B released trustee from liability
- B ratified the transaction
2-4 - B must not have been improperly induced
6
Q
what is an exculpatory clause
A
An exculpatory clause is part of a contract that prevents one party from holding the other party liable for damages related to the trust.
7
Q
ist (2)
exculpatory clauses void if
A
- they relieved a T who breaches in bad faith or with reckless indifference
- appear in trust instrument because of Trustee abuse of a confidential relationship with Settelor
8
Q
UPAIA applies to all trust and estates unless
A
instrument says otherwise
