Identify Which of the Following Statements Is False

question 19

Multiple Choice

Identify which of the following statements is false.

• A)A future interest includes reversions, remainders, and other interests, which are limited to commence in use, possession, or enjoyment at some future date or time.
• B)The gift tax exclusion is available only for a gift of a present interest.
• C)A trust for a minor (Sec. 2503(c)trust)must distribute all of its income currently in order to qualify for the annual exclusion.
• D)For a transfer made in trust, each beneficiary is deemed to be a separate donee.

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Definitions:

In Vitro Fertilization

In vitro fertilization (IVF) is a medical procedure in which an egg is fertilized by sperm outside the body, with the resulting embryo then transferred to the uterus for pregnancy.

Parol Evidence Rule

A legal principle in contract law that prevents parties from presenting extrinsic evidence of prior or contemporaneous agreements to alter or contradict the terms of a written contract.

Scalisi et al. v. New York University Medical Center

A legal case, specifics of which should be consulted through legal databases or sources for accurate details.

Parol Evidence

The rule in contract law that prohibits the introduction of evidence of prior or contemporaneous oral agreements to alter, contradict, or add to the terms of a written contract.