The beneficiaries of a decedent are paid prior to debts.

Group of answer choices

True

False

Flag question: Question 12

Question 12

1pts

A trustee can delegate the performance of personal duties.

Group of answer choices

True

False

Flag question: Question 13

Question 13

1pts

The theories of product liability

Group of answer choices

are mutually exclusive.

are set forth exclusively in the common law.

are not mutually exclusive.

are set forth exclusively in the UCC.

Flag question: Question 14

Question 14

1pts

A corporation may be judicially dissolved when its management is deadlocked and the deadlock cannot be broken by the shareholders.

Group of answer choices

True

False

Flag question: Question 15

Question 15

1pts

A debtor is presumed to be insolvent on and during what number of days immediately preceding the date of the filing of a bankruptcy petition?

Group of answer choices

30

120

60

90

Flag question: Question 16

Question 16

1pts

A corporation may properly exist without a name.

Group of answer choices

True

False

Flag question: Question 17

Question 17

1pts

State intestacy statutes commonly provide for distribution in the following order: __________.

Group of answer choices

spouse,lineals, parents, collateral heirs.

spouse, lineals, collateral heirs, parents.

spouse, lineals, collateral heirs, parents.

spouse, parents, lineals, collateral heirs.

Flag question: Question 18

Question 18

1pts

Thebalance sheet testis merely a comparison of assets to liabilities without considering whether the debtor will be able to meet future obligations as they become due.

Group of answer choices

True

False

Flag question: Question 19

Question 19

1pts

Where a testatrix executes a will and later has a child: __________.

Group of answer choices

many states hold that the will of the testatrix is partially revoked by operation of law to provide a share to the after-born child.

a new will must be executed because the birth voids the original will.

the child is prohibited by law from receiving anything from the estate.

the after-born child takes a share by escheat.

Flag question: Question 20

Question 20

1pts

When a person dies with a will, usually the probate judge names who the administrator of the estate.

Group of answer choices

True

False