Ademption Means That If a Specific Bequest Is Not Owned

question 58

True/False

Ademption means that if a specific bequest is not owned by the testator at the testator's death,then the beneficiary receives nothing.

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Definitions:

Social Loafing

The phenomenon where individuals exert less effort when working in a group than when working alone, due to reduced accountability or motivation.

Risky Decision

involves making choices under conditions of uncertainty, where the outcomes may include potential losses or gains.

Reference Group

Groups of people that individuals compare themselves to for the purpose of evaluating their behaviors, attitudes, and norms.

Mere Exposure

A psychological phenomenon whereby people tend to develop a preference for things merely because they are familiar with them.