The Courts May Not Create Implied Trusts

question 78

True/False

The courts may not create implied trusts.

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Definitions:

Accounts Payable

Refers to the amounts a company owes to creditors for items or services purchased on credit.

Notes Payable

A liability in a company's balance sheet that records amounts the company owes because it borrowed money, or a formal written agreement to pay a specific amount in the future.

Maturity Value

The amount of the note that is due on the date of maturity (Principal + Interest).