Corbin was named as executor in his fathers will. While going through his late fathers papers, he

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Corbin was named as executor in his father’s will. While going through his late father’s papers, he discovered a promissory note made by Fulsom in the amount of $10,000 that refl ected a personal loan the decedent had made before he died. Corbin approached Fulsom and indicated that he would accept

$5,000 cash in exchange for the note. Obviously, Folsom’s payment would not be included in the assets of the estate. One of the heirs discovered the cash payment and brought suit, charging misconduct. Will Corbin be required to cover the loss suffered by the estate?

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Related Book For  answer-question

Essentials Of Business Law

ISBN: 9780073377056

7th Edition

Authors: Anthony Liuzzo, Joseph Bonnice

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