Examlex
A living trust is a revocable entity that is used to avoid ____________________ proceedings upon the death of the grantor.
Gratuitous Bailment
A situation where property is voluntarily transferred into another's custody without expectation of payment.
Stradivarius
A type of high-quality stringed instrument made by members of the Stradivari family, particularly renowned violins.
Bailor
The party in a bailment who temporarily transfers possession but not ownership of a property to another party, the bailee.
Leasehold
An interest in a property that allows the holder (lessee) to use and occupy the land or premises for a specified period, under certain conditions, but does not provide ownership.
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