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Simple English definitions for legal terms

No Further Inquiry Rule

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A quick definition of No Further Inquiry Rule:

The No Further Inquiry Rule is a rule that applies to trustees who engage in self-dealing. This means that if a trustee makes a transaction that benefits themselves instead of the beneficiaries they are supposed to be helping, the beneficiaries can automatically void the transaction without having to prove that it was harmful or unreasonable. The trustee must always act in the best interest of the beneficiaries.

A more thorough explanation:

The No Further Inquiry Rule is a legal principle that applies to situations where a trustee engages in self-dealing. This means that the trustee is using their position to benefit themselves instead of acting in the best interests of the beneficiaries they are supposed to be serving. Under this rule, any transactions that the trustee enters into for their own benefit are automatically considered voidable by the beneficiaries, without the need for further proof that the transactions were harmful or unreasonable.

For example, let's say that a trustee of a trust decides to sell a piece of property that is owned by the trust to themselves at a price that is below market value. This would be considered self-dealing, as the trustee is using their position to benefit themselves at the expense of the beneficiaries. Under the No Further Inquiry Rule, the beneficiaries would be able to challenge this transaction and have it voided without having to prove that it was harmful or unreasonable.

Another example of self-dealing that would be subject to the No Further Inquiry Rule would be if a trustee used trust funds to invest in a business that they owned or had a stake in. Again, this would be considered a breach of the trustee's fiduciary duty to act in the best interests of the beneficiaries, and the beneficiaries would be able to challenge the transaction without having to provide further evidence of harm or unreasonableness.

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15:30
fucking seriously dude we're readinf 1l of a ride
oh im reading that on my own
i feel like yall should read a fun book
NosyBeagle
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can't join ur discord yet. im a next cycle baby
NosyBeagle
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or an OF model if this shit doesn't start clicking
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ive been banned from too many discords
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i want u there nemo
NosyBeagle
16:04
discord has been fine for me. i go nuts on twitter tho
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I miss pre-Elon twitter
real
you go to twitter replies and it's all blue checks and bots now it's fugly
i just have a burner twitter for political updates
it's a cesspool
16:34
was twitter ever good
much better than it is now
16:34
i had it in 2015 and it was already ultra political rage bait
16:34
ok ya fair
nothing will top 2014 tumblr for me though
16:36
yo fr
16:36
2014 tumblr eating disorder core
there used to be a two-story american apparel in chicago and all the employees were beautiful and cool and here comes 13 year old me thinking i was just like them because i wore the same clothes
you are beautiful and cool tho
no YOU'RE BEAUTIFUL AND COOL!!!!!
it was like the hipster mecca
16:44
Tumblr ands its consequences have been a disaster for the human race
im glad i got over my tumblr politics phase in high school
Some people never grow out of it
NosyBeagle
18:45
ok my shift is over. byebye lawyers <3
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