If a trust is created to take effect within the lifetime of the settlor, it is atestamentary trust.

Group of answer choices

True

False

Flag question: Question 2

Question 2

1pts

The right to sue for damages sustained from a defective product is reserved exclusively to the original purchaser of the product.

Group of answer choices

True

False

Flag question: Question 3

Question 3

1pts

An individual who has been authorized to vote the share of another stockholder is said to be voting by: ______.

Group of answer choices

trust.

proxy.

agency.

estoppel.

Flag question: Question 4

Question 4

1pts

The holder of a claim that is the subject of a bona fide dispute may be counted as a petitioning creditor.

Group of answer choices

True

False

Flag question: Question 5

Question 5

1pts

Jurisdiction over bankruptcy proceedings is vested in the federal district courts.

Group of answer choices

True

False

Flag question: Question 6

Question 6

1pts

Suppose a Ford truck slams into a parade and the driver claims the brakes failed.All of the following are potentially liable in a defective product suitexcept:

Group of answer choices

the Ford manufacturer.

the Ford dealer.

the manufacturer of the brakes.

the bystanders

Flag question: Question 7

Question 7

1pts

Aliving will, now legal in most states, provides that if the testator becomes unable to express his or her wishes and is in an irreversible, incurable medical condition, he or she does not want life-sustaining medical treatments.

Group of answer choices

True

False

Flag question: Question 8

Question 8

1pts

Any warranty that does not provide the complete protection of a full warranty is called a warranty in breach.

Group of answer choices

True

False

Flag question: Question 9

Question 9

1pts

Suppose Bob dies intestate leaving Dina, his a widow, and two children, Ed and Fred, with five grandchildren.If the estate is distributedper stirpes:__________.

Group of answer choices

Dina will receive one-half of the estate, and Ed and Fred will each receive one-fourth.

the grandchildren will receive one-fifth of Ed and Fred's shares.

Dina will receive the entire estate.

Dina will receive one-half, and the grandchildren will receive the other half.

Flag question: Question 10

Question 10

1pts

A preincorporation subscription to stock is generally treated as an agreement to buy the stock when the corporation is formed.

Group of answer choices

True

False