Curtis, a Trustee, Fraudulently Purchases Property with Trust Funds and Puts

question 11

Multiple Choice

Curtis, a trustee, fraudulently purchases property with trust funds and puts title in his own name.What type of trust is created?

• A)Constructive trust.
• B)Implied trust.
• C)Express trust.
• D)Resulting trust.

---

Definitions:

Partnership Act

Legislation that governs the rights, responsibilities, and conduct of business partnerships.

Implied Term

A provision in a contractual agreement that is not expressly stated but is assumed to be included due to the nature of the agreement or the relationship between the parties.

Management

The process or practice of directing and controlling a group of people or an organization to achieve a goal through the application of resources, planning, and strategy.

Limited Partnerships

A business structure where some partners have limited liabilities to the business's debts and obligations, typically proportional to their investment.