Testamentary - Study guides, Class notes & Summaries

An Escow is an arrangement that: (Select all that apply) (A) holds documents (B) holds funds (C) creates documents to affect a transfer of interest in a property (D) acts as an attorney (E) is responsible for guaranteeing funds - Answer-(A) holds documents (B) holds funds (C) creates documents to affect a transfer of interest in a property (E) is responsible for guaranteeing funds When is it necessary to have closing documents recorded prior to the disbursement of escrow funds? (A) it...

NCCP Examination Study Guide Questions & Answers 2024/25 Contracts - ANSWERSDefine- An agreement or bargain struck between parties in which each party assumes a legal duty to the other party. Requirements- agreement (offer & acceptance), consideration, contractual capacity, and legality. Wills - ANSWERSRequirements- testamentary intent; legal capacity; free of fraud, duress, undue influence, or mistake; and execution (two witnesses + notary = self proving). Trust - ANSWERSRequirement...

"As an executor of an estate, a Bank Trust Department typically: a. Does not have a fiduciary duty. b. Is charged with the responsibility to marshal assets, pay debts, and make distributions per terms of the will. c. Can only serve if granted special permission by the regulatory authorities in addition to the bank's general fiduciary powers. d. Must have capital in excess of the normal capital required to exercise general trust powers. " : B "When the terms of an irrevocable liv...

NCCP Examination Study Guide Questions & Answers 2024 Contracts - ANSWER-Define- An agreement or bargain struck between parties in which each party assumes a legal duty to the other party. Requirements- agreement (offer & acceptance), consideration, contractual capacity, and legality. Wills - ANSWER-Requirements- testamentary intent; legal capacity; free of fraud, duress, undue influence, or mistake; and execution (two witnesses + notary = self proving). Trust - ANSWER-Requirements- ...

NCCP Examination Study Guide Questions & Answers 2024 Contracts - ANSWER-Define- An agreement or bargain struck between parties in which each party assumes a legal duty to the other party. Requirements- agreement (offer & acceptance), consideration, contractual capacity, and legality. Wills - ANSWER-Requirements- testamentary intent; legal capacity; free of fraud, duress, undue influence, or mistake; and execution (two witnesses + notary = self proving). Trust - ANSWER-Requirements- ...

NCCP Examination Study Guide Questions & Answers 2024 Contracts - ANSWER-Define- An agreement or bargain struck between parties in which each party assumes a legal duty to the other party. Requirements- agreement (offer & acceptance), consideration, contractual capacity, and legality. Wills - ANSWER-Requirements- testamentary intent; legal capacity; free of fraud, duress, undue influence, or mistake; and execution (two witnesses + notary = self proving). Trust - ANSWER-Requirements- ...

NCCP Examination Study Guide Questions & Answers 2024 Contracts - ANSWER-Define- An agreement or bargain struck between parties in which each party assumes a legal duty to the other party. Requirements- agreement (offer & acceptance), consideration, contractual capacity, and legality. Wills - ANSWER-Requirements- testamentary intent; legal capacity; free of fraud, duress, undue influence, or mistake; and execution (two witnesses + notary = self proving). Trust - ANSWER-Requirements- ...

NCCP Examination Study Guide Questions & Answers 2024 Contracts - ANSWER-Define- An agreement or bargain struck between parties in which each party assumes a legal duty to the other party. Requirements- agreement (offer & acceptance), consideration, contractual capacity, and legality. Wills - ANSWER-Requirements- testamentary intent; legal capacity; free of fraud, duress, undue influence, or mistake; and execution (two witnesses + notary = self proving). Trust - ANSWER-Requirements- ...

NCCP Examination Study Guide Questions & Answers 2024 Contracts - ANSWER-Define- An agreement or bargain struck between parties in which each party assumes a legal duty to the other party. Requirements- agreement (offer & acceptance), consideration, contractual capacity, and legality. Wills - ANSWER-Requirements- testamentary intent; legal capacity; free of fraud, duress, undue influence, or mistake; and execution (two witnesses + notary = self proving). Trust - ANSWER-Requirements- ...

NCCP Examination Study Guide Questions & Answers 2024 Contracts - ANSWER-Define- An agreement or bargain struck between parties in which each party assumes a legal duty to the other party. Requirements- agreement (offer & acceptance), consideration, contractual capacity, and legality. Wills - ANSWER-Requirements- testamentary intent; legal capacity; free of fraud, duress, undue influence, or mistake; and execution (two witnesses + notary = self proving). Trust - ANSWER-Requirements- ...