Once a Data Bank Has Been Established, There Is No

question 21

True/False

Once a data bank has been established, there is no need to make any additions to or changes in its contents.

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Definitions:

Implied Trusts

An imposed legal arrangement created by a court with the notion that parties acted as though a trust existed, despite not formally establishing one.

Courts

Judicial institutions authorized by the government to adjudicate disputes, interpret laws, and administer justice in legal cases.

Totten Trust

A form of revocable trust created by depositing funds in a bank account in the depositor's name as trustee for another, transferring the funds to the beneficiary upon the depositor's death.

Irrevocable

Refers to something that cannot be altered, canceled, or taken back once it has been established or issued.