trust assets from unreasonable loss for the trust's beneficiaries. Creation Trusts may be created by the expressed intentions of the settlor also known as the founder (express trusts) or they may be created by operation of law known as implied trusts. An implied trust is one created by a court of equity because of acts or situations of the parties. Implied trusts are divided into two categories: resulting and constructive. A resulting trust is implied by the law to work out the presumed intentions of the parties, but it does not take into consideration their expressed intent. A constructive trust is a trust implied by law to work out justice between the parties, regardless of their intentions. Common ways in which a trust is created include: a written trust instrument created by the settlor and signed by both the settlor and the trustees (often referred to as an inter vivos or living trust); an oral declaration or promise; the will of a decedent, usually called a testamentary trust; or a court order (for example in family proceedings). In some jurisdictions, certain types of assets may not be the subject of a trust without a written document. Formalities The formalities required of a trust depend on the type of trust in question. Generally, a private express trust requires three elements to be certain, which together are known as the "three certainties". These elements were determined in Knight v Knight to be intention, subject matter and objects. The certainty of intention allows the court to ascertain a settlor's true reason for creating the trust. The certainties of subject matter and objects allow the court to administer trust when the trustees fail to do so. The court determines whether there is sufficient certainty by construing the words used in the trust instrument. These words are construed objectively in their "reasonable meaning", within the context of the entire instrument. Despite intention being integral to express trusts, the court will try not to let trusts fail for the lack of certainty. Intention. A mere expression of hope that a trust be created does not constitute the intent to create a trust. Conversely, the use of terms of art such as the word "trust" does not of itself establish whether an instrument is an express trust. Disputes in this area mainly concerns differentiating gifts from trusts. Subject Matter. The property subject to the trust must be