Kristen signs a one-year lease for a mobile home owned by Lamont. If Kristen dies during the lease term, the lease interest. 1. automatically renews 2. returns to Lamont 3. passes to Kristen's heirs as personal property 4. automatically expires
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- If an insured voluntarily gives up the life insurance contract, the policy is A) Foreclosed B) Lapsed C) on extended warranty D) reinstatedBryson is the owner of a deferred annuity. His son, Calvin, is the annuitant, and his daughter, Isabelle, is the beneficiary. Which parties to this annuity can select the type and timing of annuitized income payments?(Search Chapter 3) a. Bryson b. Calvin c. Isabelle d. Bryson, Calvin, or IsabelleApex Hospital is in need of major renovation of its electrical system. One of Apex’s governing board members, Willy Watt, is an electrical contractor who is a partial owner of an electrical restoration company. He would like to bid on the project. May he? If he does, what must he do? What must the governing board do? Is there a problem with Mr. Watt’s fiduciary duty? Is there a problem with the governing board’s fiduciary duty? Recommend the best steps that Apex Hospital should follow.
- Number 16: Which of the following is true about implied authority?5 in order for a conditional receipt to be issued, the applicant must A take a medical examination B sign the application and pay the initial premium C name a beneficiary D elect a settlement optionDavid owns a restaurant in downtown Sarasota. When David's lease is up, what happens to his cooking stoves and dish washing machines? O These items are considered trade fixtures and thus owned by David. David will take these items when he moves from the property. These items become emblements and belongs to both David and the landlord These items are considered trade fixtures and will stay with the landlord. These items are considered fixtures and will stay with the landlord.
- Pls help ASAPWhich one of the following is NOT a correct pairing of a trust provision with its characteristics? A) Spendthrift provision: a clause in a trust that prevents a beneficiary from withdrawing more than the greater of $5,000 or 5% of the corpus.quizlet B) Crummey provision: a trust clause that provides the beneficiary with a limited duration right to demand payment of contributions to a trust each year up to the annual gift tax exclusion from the trustee. C) Discretionary provision: a trust clause that allows the trustee to use his or her sole judgment in determining how much of the trust income and principal will be paid to or on behalf of a beneficiary. ?Pls help ASAPon both pls
- what does it means to be a “remainderman” of a life estate interest. Can this interest be sold?PLS HELP ASAPA Delaware LLC wanted to acquire a 300,000 square foot class “A” office building in Philadelphia for $150 per square foot that was 77% leased. Wells Fargo agreed to fund a purchase money mortgage loan with a maximum LTV of 60%. What is the minimum amount of equity that would be needed to close the acquisition? a. $45,000,000 b. $9,000,000 c. $18,000,000 d. $27,000,000