Task: Class Definition Understanding (ontology: Business_Finance/Financial_Industry_Business_Ontology)

Which of the following definitions best describes 'fund contract'?

A. formal, legally binding agreement between members of the Board of Directors of the organization
B. contract that embodies and defines the fund legal form in cases where there is no independent organization
C. formal agreement that establishes a trust, whereby the trustor(s) gives the trustee(s) the responsibility to hold and manage assets for the beneficiary(ies)
D. contract between partners in a partnership that establishes the terms and conditions of the relationship between the partners

Answer: contract that embodies and defines the fund legal form in cases where there is no independent organization