Horace Holmes Died at the Age of 85,leaving Behind All

question 29

Multiple Choice

Horace Holmes died at the age of 85,leaving behind all his property to Joe Baines,his butler.The news of the new will that Horace executed three months before his death naming Joe as the sole beneficiary surprised everyone.In his prior will,he had bequeathed his estate to his two daughters and three grandchildren on a per capita basis.The court took up proceedings to determine the validity of his new will because Horace's rejection of his daughters and grandchildren in his will was uncharacteristic of him.The court most likely suspected this change in his will to be a case of ________.

• A) constructive trust
• B) undue hardship
• C) undue influence
• D) spendthrift trust

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Definitions:

Financial Market

A marketplace where buyers and sellers engage in trading financial instruments such as stocks, bonds, commodities, and currencies.

OTC Market

Over-the-counter market where securities are traded directly between parties without the oversight of an exchange.

Auction Market

A market where buyers and sellers submit bids and offers to buy or sell goods and services, with transactions occurring at prices determined through the auction process.

Electronic Market

An online platform where buyers and sellers can exchange goods and services without the need for a physical marketplace.