The threshold for sound mind is a little more stringent for an irrevocable trust than for a revocable trust or a will. As with will contests, a trust contest is typically a full-blown legal proceeding involving a trial. Breaking the trust would ultimately come down to the opinion of a judge.
A quid is a slang term for an english pound (currency not weight). Bob is slang for an old english shilling. Currently it's 100 pence = one pound. A shilling would be now worth about 5 pence today. It used to be 20 shillings made a pound.A shilling was 12 pennies.
Americans have pennies, nickels, dimes, quarters, and various denominations of dollar bill. Great Britain has similarly sub-divided its currency into coin and banknote (paper) categories. When one speaks of a quid, she is referring to a single pound, so âfive quidâ means five pounds, âten quidâ ten pounds, and so on. âQuidâ does not apply to any amount of pence, unless you are collecting together several pence coins to make one pound, or âquid.â (âPenceâ is synonymous with âcentsâ in American currency.)