Business Law Unit 6

Charles agrees to store Tuan's car in Charles's garage for the winter months while Tuan visits his grandmother in California. As a bailee, Charles is automatically entitled to use Tuan's car while Tuan is away. TRUE OR FALSE

False

If property is mislaid, the finder of the property will have a superior claim to possession of the property against everyone except the true owner. TRUE OR FALSE

False

In January, Erwin told David, his nephew, that he would give him a car when he graduates from college. David graduated in May. If Erwin refuses to give David a car, David can sue him for breach of an inter vivos gift. TRUE OR FALSE

False

Jerry enters a restaurant and hangs his coat in an unattended cloakroom near the entrance of the restaurant. Even though no employee of the restaurant is present, the provision of the cloakroom makes Jerry think it will be safe. In this situation, the restaurant is the bailor of Jerry's coat. TRUE OR FALSE

False

Jody loaned her neighbor, Phil, her snow blower. Phil set it near his driveway, and later accidentally ran over and destroyed it. In a suit recover damages, Jody as plaintiff has the burden of proving that Phil was negligent and caused the destruction of her snow blower. TRUE OR FALSE

False

Jose and Juanita are first cousins. Jose lives in San Francisco, California; Juanita lives in Toronto, Canada. The two have met only once in life, and may never meet again. Nonetheless, because they are blood relatives, Juanita has an insurable interest in Jose's life. TRUE OR FALSE

False

Life insurance is really liability insurance. TRUE OR FALSE

False

Owners in a joint tenancy with the right of survivorship cannot transfer their interest during their lifetime. TRUE OR FALSE

False

Parents may not disinherit their minor children without good reason. TRUE OR FALSE

False

Stephen want to give his niece, Dawn, a piece of jewelry as a gift. Stephen gives Tracy, his agent, the bracelet to take to Dawn. The delivery element of making a gift has been completed. TRUE OR FALSE

False

The Uniform Probate Code has been adopted in all states. TRUE OR FALSE

False

The difference between an inter vivos gift and a gift causa mortis is that the inter vivos gift is made during the donor's lifetime and a gift causa mortis is a gift mae after the donor's lifetime by the donor's estate. TRUE OR FALSE

False

The landlord's duty to provide quiet enjoyment of the premises and the landlord's duty to deliver and maintain the premises in a habitable condition are one and the same. TRUE OR FALSE

False

The only function of a will is to dispose of a person's property upon death. TRUE OR FALSE

False

The person who issues the insurance policy and serves as guarantor is know as the owner TRUE OR FALSE

False

The trademark Law Treaty made it more difficult to apply for trademarks around the world. TRUE OR FALSE

False

Tom rented an apartment from Margaret on a month-to-month basis, with rent due on the first of the month. This type of tenancy is known as a "tenancy at will" TRUE OR FALSE

False

Victor purchased 1 million dollars of insurance on his home even though the house was only worth 500,000 dollars. Victor's house was destroyed by lightning. Under the insurance policy, Victor will be able to recover 1 million dollars. TRUE OR FALSE

False

While shopping at the mall, Everett's wallet fell to of his pocket. Jon found the wallet. The wallet is abandoned property and Jon may keep it. TRUE OR FALSE

False

April purchased a life insurance policy on herself. On her death, the proceeds of the insurance were to be paid to her minor child, Ryan. Ryan is the beneficiary. TRUE OR FALSE

True

An executor who is related to the testator is not entitled to compensation. TRUE OR FALSE

False

Landlords have the right, and may have a duty, to evict tenants who seriously disturb others. TRUE OR FALSE

True

Patrick owns a n office building and leases space on a year-to-year basis. Patrick maintains a reversionary interest on the property. TRUE OR FALSE

True

Per capita means each heir gets an equal share of an estate. TRUE OR FALSE

True

Property of a person who dies without a will is distributed according to intestacy laws. TRUE OR FALSE

True

Reva prepares and signs a document that she intends to be her will. If she has not followed the legal technicalities of her state regarding executing a will, the court may not enforce the will. TRUE OR FALSE

True

When Alberta pays her life insurance premium, a portion of the premium pays for insurance and the rest goes into savings. The company pays dividends on the savings. Alberta has a whole life insurance policy. TRUE OR FALSE

True

When Sue bought a new car, she stopped bu the insurance company and completed an application and made a payment. the agent accepted the offer orally. If Sue has an accident on the way home, she is covered by the new policy. TRUE OR FALSE

True

The right of the tenant to the undisturbed possession of the lease property is known as a. quiet enjoyment b. habitability c. lawful possession d. peaceful possession

a. quiet enjoyment

CHAPTER 27

Chapter 27

A covenant allows a landlord to evict a tenant if there is a violation of the lease. TRUE OR FALSE

False

A later will revokes a prior will only if that revocation is clearly stated. TRUE OR FALSE

False

A person always has an insurable interest in his or her own life and the life of his or her spouse or fiancee, but not in parents or children. TRUE OR FALSE

False

All bailments have to be by agreement between the bailor and bailee. TRUE OR FALSE

False

A bailment was created for the parties' mutual benefit. This means that the bailee must use ordinary care with the property. TRUE OR FALSE

True

Dersett Trucking hauls granite for the major granite companies in Minnesota. Dersett Trucking does not make its trucking services available to the general public. Dersett Trucking is a contract carrier and does not incur strict liability TRUE OR FALSE

True

Ed wants to give Howard his old car, but Howard says he doesn't want it. Howard later reconsiders and tells Ed he does want the car. His previous repudiation means there is no gift, and Howard has no rights in the car. TRUE OR FALSE

True

Estate planning has two primary goals: to ensure property is distributed as the owner desires and to minimize estate. TRUE OR FALSE

True

If an insurance company lies to a customer when selling him a policy, it has committed fraud. TRUE OR FALSE

True

If the court awards a partition to co-tenants, the court will normally attempt a partition by kind. If partition by ind is impossible because there is no fair way to divide the property, the court will order the real estate sold, and the proceeds equally divided TRUE OR FALSE

True

In a condemnation, a court order specifies what compensation is just for the property owner and awards title to the government. TRUE OR FALSE

True

In many states today, a landlord must use reasonable care to maintain safe premises and is liable for foreseeable harm. TRUE OR FALSE

True

In purchasing life insurance, Kelsey concealed the fact that she has a muscular disease. The insurance company can void the policy if the muscular disease is found to be a material fact. TRUE OR FALSE

True

Jacob has been quite ill. When three of his neighbors come to visit one day, he tells them that he is dying and that he wants them to witness his oral will. In some states, he can validly dispose of his personal property by his witnessed, oral statements. TRUE OR FALSE

True

Landlord-tenant relationships are governed by a mixture of property law, contact law, and negligence law TRUE OR FALSE

True

Traditional health insurance plans are a. pay for service b. managed care c. value-based care d. health maintenance

a. pay for service

Myron had two children, Cheryl and Pete, who predeceased him. Cheryl had three children and Pete had one child. Myron had a will. Which of the following is true? a. If Myron's will indicates that the issue are to inherit per stirpes, Pete's child will receive one half f Myron's estate b. If Myron's will indicates that the issue are to inherit per stirpes, Pete's child will receive one fourth of Myron's estate c. If Myron's will indicates that the issue are to inherit per capita, Pete's child will receive one half of Myron's estate d. If Myron's will indicates the issue are to inherit per capita, each of Cheryl's children will receive one sixth of Myron's estate

a. If Myron's will indicates that the issue are to inherit per stirpes, Pete's child will receive one half of Myron's estate

Gerard owned an apartment building that was fully leased. He sold it to Thomas. What happens to the leases of the building's tenants? a. The leases remain valid through the end of their terms b. Thomas can revise the leases and raise the rent if he chooses c. Gerard continues to receive rent payments through the terms of the leases d. Thomas may choose to evict the tenants and sell the apartments as condos

a. The leases remain valid through the end of their terms

Buck, fearing death from severe injuries suffered in a machinery accident, assigned over a certificate of deposit worth $100,000 and delivered the certificate to Pearl, a friend, who gladly accepts. Buck ends up recovering from the injuries. Why must Pearl give the certificate of deposit back to Buck? a. This type of gift is known as a gift causa mortis. It is conditional gift which is conditioned on Buck's actually dying. Because Buck recovered, the gift is automatically revoked b. This is an inter vivos gift because Buck was still alive when the gift was made. Any inter vivos gift is revocable because there is no consideration to make Buck's delivery of the certificate binding under contract law. c. This is an inter vivos gift and due to state laws, gifts in contemplation of death must be written into a valid will or otherwise the deceased's assets will be distributed according to sate statute d. This gift is an ordinary gift, but it is revocable because we don't know if the certificate of deposit has matured or not

a. This type of gift is known as a gift causa mortis. It is a conditional gift which is conditioned on Buck's actually dying. Because Buck recovered, theft is automatically revoked

Griffith Manufacturing ships 40 crates of goods by Trusty Shipping, a common carrier. Trusty offers Griffith a shipping rate of $725 for a limited liability of $5,000 or a rate of $975 for full liability for any harm to the goods. Griffith chooses the $725 rate. In transit, Trusty's driver has an accident during an ice storm and all of Griffith's goods are destroyed, causing a loss of $12,000. If Griffith sues Trusty: a. Trusty will be liable for only 5,000 dollars because a common carrier is allowed to limit its liability by contract b. Trusty will be liable for the full 12,000 dollars because common carriers have strict liability c. Trusty will automatically be liable for the full 12,000 dollars under the Carmack Amendment d. Trusty is subject to normal bailment rules and can escape liability for any damage to the goods by providing that it exercised due care of the property and that the loss was caused by an act of God.

a. Trusty will be liable for only 5,000 dollars because a common carrier is allowed to limit its liability by contract

A landlord's substantial interference with a tenant's use of the property is considered a. a constructive eviction b. a tort c. a violation of federal housing law d. permissible in a periodic tenancy

a. a constructive eviction

Which of the following is true about wills? a. A will can be amended to change specific terms by execution of a codicil b. the testatrix cannot disinherit her minor children without stating a reason in the will c. if the will meets the legal technicalities, the surviving spouse cannot override it d. once a will is written, it cannot be change

a. a will can be amended to change specific terms by execution of a codicil

Which of the following does NOT act as a revocation of a will? a. creating a codicil b. the testator's putting an X through it c. physically destroying the will by intentionally shredding it d. signing a new will that expressly revokes prior wills

a. creating a codicil

The major disadvantage of a trust is a. expense b. lack of privacy c. an often lengthy probate process d. lack of control

a. expense

Bertha, from Chicago, traveled to San Francisco to attend a conference. Her sister, Martha, lives in San Francisco and consequently, Bertha made arrangements to spend a couple of days with her sister. The next morning sitting at the breakfast table, Bertha realizes that she packed a mismatched pair of shoes (one is black and the other is blue). Luckily, Martha wears the same size of shoes and lends Bertha a pair of black leather pumps. During the day, the shoes are damaged while Bertha is wearing them. Bertha's duty of care would be a duty of a. extraordinary care, because this is a bailment for the sole benefit of the bailee b. ordinary care, because this is a bailment with both parties receiving mutual benefits c. only slight care, because this is a bailment for the sole benefit of the bailor d. none, as the sisters would share without condition

a. extraordinary care, because this is a bailment for the sole benefit of the bailee

Bruce tells his son, "you can have my 1990 truck, but if your grades fall, I'm taking it back" Bruce a. has made no gift b. has made a "revocable git", which is effective as a gift as long as the stated condition is met c. intended to transfer ownership d. has made a constructive gift

a. has made no gift

Sarah has car insurance. While driving her automobile, Sarah negligently ran a red light and hit Vi's car. Which type of coverage will pay for the damage done to Vi's car? a. liability insurance b. comprehensive insurance c. accident insurance d. uninsured motorist insurance

a. liability insurance

Which of the following property is NOT affected by a will? a. life insurance b. personal property c. anatomical gifts d. individual bank accounts

a. life insurance

Lacy set her textbook under her chair in her business law class and then forgot to take it with her when she left the classroom. A janitor later discovered the textbook and age it to the Dean of the Business College. In this situation a. the college is a constructive bailee, obligated to retune the textbook to Lacy, and until it does, it is liable for harm to the property b. the college is a bailee by agreement because holding items in a lost and found box is generally part of the college-student agreement when the student enrolls for classes c. the college is responsible for the discovered textbook because in this situation, the college is subject to implied warranties unless the college has disclaimed such warranties in the student handbook d. this is a bailment for the sole benefit of the bailee

a. the college is a constructive bailee, obligated to return the textbook to Lacy, and until it does, it is liable for harm to the property

If a tenant leaves a toy car on the stairs of his apartment and a guest trips over it and is injured, who is most likely liable? a. the tenant b. the guest c. the landlord d. no one because it was an accident

a. the tenant

A bailee always has a right a. to possession of the bailed property b. to use the bailed property c.to compensation d. all of the answers are correct

a. to possession of the bailed property

Select the correct answer a. Rosie rents a locker at the airport, and she puts a bag in the locker. Rosie keeps the locker key. In this case, the bag has been delivered to and accepted by the airport. This airport is a bailee b. Hill rents a boar to Dan. The boat is located at a lake 30 miles away. Hill gives Dan keys to the boat. Dan drives to the lake and takes possession of the boat. In this case, the boat has been delivered to and accepted by Dan, and Dan is a bailee c. Unknown to Lon, Jeff left a bike at Lon's house. Lon has not found the bike and he is not likely to find it because Jeff left the bike under the front porch. In this case, Lon is a bailee of the bike. d. Ken parked a car in a self-service lot and Ken kept the keys. The parking lot is a bailee

b. Hill rents a boat to Don. The boat is located at a lake 30 miles away. Hill gives Dan keys to the boat. Dan drives to the lake and takes possession of the boat. In this case, the bat has been delivered to and accepted by Dan, and Dan is a bailee

Jake owns an old piece of exercise equipment. He has been using the equipment merely to hang his clothes on, so Jake decides to get rid of the thing. He takes the unused exercise machine to the landfill and throws it off the back of the truck. Maggie, a teenager, is at the landfill rummaging for useful items. Maggie sees the exercise equipment and decides it is just the thing to give her sister for Christmas, so she decides to take it home. As she is loading it into the back of her pickup truck, Jake stops and tries to get it back. The landfill owner sees the commotion and decides he would like to have the equipment as well. Who has the best rights in the exercise equipment? a. They are all joint owners b. Maggie c. Jake d. The landfill owner

b. Maggie

Which of the following types of concurrent ownership does not provide for rights of survivorship? a. Joint tenancy b. Tenancy in common c. Tenancy bu the entirety d. All of these provide for rights of survivorship

b. Tenancy in common

Which of the following is NOT required to create a valid trust? a. Legal age and sound mind of the grantor b. Witnesses c. A beneficiary(ies) d. property transferred to the trust

b. Witnesses

Dr. Gavornne advises his very ill patients to prepare a living will. The purpose of a living will is to a. make a disposition of property b. express a desire not to have extreme medical treatment that would prolong their lives c. transfer life insurance d. consent to organ donation

b. express a desire not to have extreme medical treatment that would prolong their lives

Liability policies, such as personal liability, professional malpractice, or business liability insurance, do NOT protect the insured against a. a personal injury on the insured's property, such as the mail carrier who slips and falls on the owner's sidewalk b. intentional harm caused bu the insured c. claims for property damages bu the insured d. someone injured by the insured away from home or business

b. intentional harm caused by the insured

Insurance obtained by a limited partnership on her life of the general partner would be a. double indemnity insurance, because both the limited partnership and the general partner are insured b. key person life insurance, because the general partner is a key person, contributing a great deal to making the business successful. c. a co-insurance policy because both the limited partnership and the general partner are insured d. whole life or straight life insurance which builds a cash value

b. key person life insurance, because the general partner is a key person contributing a great deal to making the business successful

Rhonda is a server in a restaurant. One day she finds a nurse while clearing a table. The purse is most likely a. lost property b. mislaid property c. community property d. abandoned property

b. mislaid property

Legal requibments for a will depend on state law, but generally include all but which of the following? a. a writing b. signatures of at least three witnesses c. the testator's signature d. witnesses who will not inherit under the will

b. signatures of at least three witnesses

A tenancy with no fixed duration is a a. month to month tenancy b. tenancy at will c. periodic tenancy d. tenancy for years

b. tenancy at will

Which of the following insurance policies continues for a stated period of time with the premiums increasing with the age of the insured? a. double indemnity b. term insurance c. annuity contract d. comprehensive insurance

b. term insurance

The element that distinguishes a contract from a gift is a. performance of the offeror's or donor's promise b. the element of consideration which is present in a contract, but not in a gift c. whether or not the offeree or donee accept the offer d. whether or not the subject of the gift or contract is illegal

b. the element of consideration which is present in a contract, but not in a gift

A tenant's foremost obligation is a. to maintain the premises b. to pay rent c. to follow the landlord's rules d. to move out at the end of the lease

b. to pay rent

Pamela applies for a life insurance policy with Forever Young Insurance Company. When completing the application form about past surgeries, Pamela forgot about a past outpatient surgery when she had an infected hang-nail removed and her toe treated. One year after issuing the policy, Pamela died suddenly from a brain aneurysm. Forever Young denies payment under the policy based on misrepresentation. If Pamela's sister, Paula, sues Forever Young, she will most likely a. win, because once an application has been accepted, an insurer may not use a misrepresentation on the application to avoid liability b. win, because Pamela's misrepresentation was not a material fact and did not increase Forever Young's risk in insuring Pamela's life c. lose, because Pamela's application contained a misrepresentation of material fact d. lose, because an insurer can always use any misrepresentation on an application to avoid paying

b. win, because Pamela's misrepresentation was not a material fact and did not increase Forever Young's risk in insuring Pamela's life

Everyone should have disability insurance to replace ____________ of their income a. 25-50 % b. 40-60 % c. 60-75 % d. 90-100 %

c. 60-75 %

The percentage of people dying without a will is approximately a. 5% b. 25% c. 65% d. 90%

c. 65%

The Solomans own a cabin on the south side of Mount Henry. The Solomans told Bennie and Claudia they could live in the cabin and use it as they wished until the Solomans wanted to use it again. Twelve years later, the Solomans informed Bennie and Claudia that they were going to spend the summer at the cabin and that Bennie and Claudia would have to make other arrangements for the summer. Bennie and Claudia claimed that they had acquired title by adverse possession, because they had occupied the property for the period of time required for adverse possession under state law (10 years in that state). Are Bennie and Claudia correct? a. Yes, Bennie and Claudia were living n the property with exclusive, open possession for a continuous period of time for the required 10 years b. Yes, Bennie and Claudia had the Solomans' permission, therefore the possession was not illegal c. No, Bennie's and Claudia's possession was with the Solomans' permission and therefore the claim was not adverse to the Solomans d. No, there was no warranty deed transferred to Bennie and Claudia

c. No, Bennie's ad Claudia's possession was with the Solomans' permission and therefore the claim was not adverse to the Solomans

When Latosha rented an apartment, she didn't know that the neighborhood had a high crime rate. When she was burglarized, she sued the landlord. Which of the following is most likely true? a. Neither Latosha nor the landlord are acceptable since the crime was nor foreseeable b. Latosha could have prevented the crime and is therefore accountable c. Since there is a high crime rate in the neighborhood, the courts are likely to hold the landlord responsible d. Landlords cannot be held accountable for criminal attacks that occur on the premises

c. Since there is a high crime rate in the neighborhood, the courts are likely to hold the landlord responsible

Lying on her hospital bed alone one night, Phyllis grabs a pen and paper. With the last of her strength, she wrote her last will and testament leaving all her worldly possessions to her next-door neighbor, Aaron. This type of will is a. a nuncupative will b. a disinherited children's share will c. a holographic will d. illegal in all states

c. a holographic will

A trust created in a will is a. an inter vivos trust b. a constructive trust c. a testamentary trust d. a probate trust

c. a testamentary trust

Which of the following is/are generally subject to a standard of strict liability for bailed goods? a. contract carriers and common carriers b. common carriers and innkeepers c. common carriers d. contract carriers

c. common carriers

An insurance policy must meet which of the following? a. state statutory requirements for tort law b. federal statutory requirements for tort law c. common law requirements for contracts d. common law requirements for tort law

c. common law requirements for contracts

Joel is displeased with his son's lifestyle choice and instead of dividing his estate, Joel wants to leave all of his property to his daughter, Marie when he dies. Joel may a. not leave everything to his daughter and nothing to his son. I Joel tries to do this, his son can take a forced share of his father's estate b. disinherit his son, but he must indicate in the will his reason for doing so c. disinherit his son for any reason as long as Joel indicates in the will that the son was omitted on purpose d. disinherit his son only if Joel leaves the son a nominal amount, such as 1 dollar

c. disinherit his son for any reason as long as Joel indicates in the will that the son was omitted on purpose

Mark signs a periodic tenancy lease at the River's Edge Warehouse for one year. After the year expires, Mark stays in the warehouse and the landlord acquiesces. Mark a. has a month-to-month periodic lease, which can be terminated by either party giving a 30-day notice b. has a tenancy at sufferance which is not a true tenancy at all c. has another one-year lease d. must move out when the landlord finds another tenant

c. has another one-year lease

A bailment is different from a gift because a. a git remiers consideration, but a bailment does not b. a gift requires delivery, but a bailment does not c. in a bailment, only possession of the property is transferred to the bailee, whereas the gift, both possession and ownership must pass to the donee d. a gift is alwyas a contract, but a bailment is generally not a contract

c. in a bailment, only possession of the property is transferred to the bailee, whereas with a gift, both possession and ownership must pass to the donee

Personal property means all property EXCEPT a. soil plants, and trees removed from the land b. minerals and crops removed from the land c. land and all things permanently attached to the land d. intangible property

c. land and all things permanently attached to the land

Ali took a seat at a both at Midway Diner. Between the salt and pepper shakers, Ali noticed something glittering. It was a diamond ring. The ring is most likely a. abandoned property b. common property c. mislaid property d. community property

c. mislaid property

Percival takes his computer to a repair show to have the disk drive repaired. This is most likely a a. bailor-benefit bailment b. bailee-benefit bailment c. mutual-benefit bailment d. leasehold arrangement

c. mutual-benefit bailment

Darcy buys a life insurance policy on her own life, under which she pays the annual premiums. The insurance is issued for a specific period, but is renewable for similar periods. Darcy is covered only as long as she makes the payments. There is no cash value portion to the policy. Darcy probably owns a. whole life insurance b. key-person life insurance c. term life insurance d. an annuity

c. term life insurance

In order to constitute as a gift a. the donor must intend to transfer ownership of property within his or her lifetime b. the donee need not actually accept the gift c. the donor must deliver the gift property to the donee d. the donor may revoke the gift at any time

c. the donor must deliver the gift property to the donee

Bonnie's insurance policy allows her to adjust the premiums over the life of the policy and adjust the allocation of the premiums between insurance and savings. What kind of policy does Bonnie have? a. whole life insurance b. term life insurance c. universal life insurance d. an annuity

c. universal life insurance

Beth owned an original United States flag. She had previously loaned the flag to Ross, a lawyer, so that he could display the flag on the wall behind his office desk. One day while visiting Ross in his office and admiring the flag, Beth said to Ross, "You are so fond of that flag, I would like you to have it!" Ross responded with a gracious "thank you." In this situation: a. Beth has not made a valid, binding gift of the flag because gifts are never binding and van always be revoked by the donor b. Beth has not made a valid, binding gift of the flag because the donor must deliver the property to the donee, which was not done her c. Beth has made a valid, binding gift if Beth agreed to give the flag in exchange for Ross's legal services d. Beth has made a valid, binding gift because she intended to transfer present ownership to Ross and Ross accepted the flag

d. Beth has made a valid, binding gift because she intended to transfer present ownership to Ross and Ross accepted the flag

Ginny sublet her apartment to Fred by assigning her lease to him. If Fred doesn't pay rent, who is liable to do so? a. Since Fred accepted the assignment of the lease, he is responsible and the landlord must collect from him b. Since Ginny is the original tenant, she is liable and the landlord must collect the rent from her c. Ginny is responsible because it is not legal to assign a lease to another person d. Ginny and Fred are both liable and the landlord may sue both parties to recover the unpaid rent

d. Ginny and Fred are both liable and the landlord may sue both parties to recover the unpaid rent

Hanna inleds to give her granddaughter, Melodee, her antique hat pin. This heirloom has been et under lock and key in the wall vault in the library of Hanna's house in Virginia. The hat pin is currently the only item in the vault. When Hanna is visiting Melodee in Connecticut, Hanna gives Melodee the only key to the vault. Melodee is grateful for the present and excitedly accepts. In this situation has there been a completed gift? a. No, There has been no physical delivery of the hat pin b. Yes, there has been physical delivery of the hat pin c. No, there has only been constructive delivery of the hat pin d. Yes, there has been constructive delivery of the hat pin

d. Yes, there has been constructive delivery of the hat pin

George saw his great-grandfather's pocket watch to Nurse Nadine because he expected to die soon. This is a. a testamentary gift b. an inter vivos gift c. an executed gift d. a gift causa mortis

d. a gift cause mortis

Under the Uniform Anatomical Gift Act a. an individual may indicate the desire to be an organ donor by putting a provision in his will. The provision will take effect after probate of the will b. the willingness to be an organ donor may be indicated by signing an organ donation card in the presence of one disinterested witness c. family members of a decedent have not right to make a gift of the decedent's organs if the decedent did not make an affirmative indication of the desire to be a donor during her lifetime d. an effective donation may be made by an individual in a will or on a witnessed organ-donation card or by family member after the person's death as long as the person did not indicate a desire not to be a donor

d. an effective donation may be made by an individual in a will or on a witnessed organ-donation card or by family members after the person's death as long as the person did not indicate a desire not to be a donor

In order to travel extensively and not worry about handling her affairs, Lee transfers most of her assets into a trust with her bank serving as trustee. She has created __________ trust a. a travel b. a testamentary c. a constructive d. an inter vivos

d. an inter vivos

Under which of the following does the insurer promise to pay the insured a specified amount for the rest of his life, beginning at later date? a. straight life policy b. whole life policy c. universal life policy d. deferred annuity contract

d. deferred annuity contract

Which of the following is generally covered under casualty insurance? a. Employee theft or embezzlement b. disability c. transportation insurance d. vandalism to property

d. vandalism to property