11. A trustee may make an unsecured personal loan with trust funds,…

Question Answered step-by-step 11. A trustee may make an unsecured personal loan with trust funds,… 11. A trustee may make an unsecured personal loan with trust funds, as long as the trustee knows the recipient of the loan well, or has performed a credit check prior to lending the money. True False 12. A trustee may never liquidate the trust assets and terminate the trust for the benefit of needy beneficiaries, even with advance court permission. True False 13. A trustee who previously had business dealings with the settlor of the trust may continue to do business with the trust itself, so long as the terms are the same or similar to the terms of the business previously conducted with the settlor. True False 14. A trustee must keep detailed records of all trust transactions, even minor ones, and may be called before the court to account for the status of the trust. True False 15. A trustees powers may never be inferred, as they must arise directly from the express language of the trust instrument in order to be legally valid. True False Business Management Business Law PARALEGAL 031 Share QuestionEmailCopy link Comments (0)