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Discuss the situation in terms of the duties of the trustee

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Reference no: EM131821665

Question - Clarence is the trustee of a trust. With $75,000 of his own money, Clarence purchases a parcel of real estate. Two months later, he sells the parcel to the trust for $150,000 and pockets the profit. Discuss the situation in terms of the duties and powers of the trustee.

Reference no: EM131821665

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