Answer the following statements true (T) or false (F)
1. Testamentary trust
2. Revocable trust
3. Implied trusts
4. Resulting trusts
5. Constructive trust
a. A trust that is created by the operation of law
b. A trust that arises when a person has a title to property for which there may never have been a formal trust agreement
c. A trust that can be altered or amended
d. A trust that often arise when an express trust fails
e. A trust created in a will
1. b. A trust that arises when a person has a title to property for which there may never have been a formal trust agreement
2. c. A trust that can be altered or amended
3. a. A trust that is created by the operation of law
4. d. A trust that often arise when an express trust fails
5. e. A trust created in a will
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Indicate whether the statement is true or false
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