Which of the Following Is Normally Viewed as an Adjustment

question 73

Multiple Choice

Which of the following is normally viewed as an adjustment to the principal of an estate?

• A) Ordinary repair expenses.
• B) Insurance expenses.
• C) Utility expenses.
• D) Major repairs to rental property.
• E) Property taxes.

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Definitions:

Adequacy of Consideration

A legal concept referring to the fairness of the value exchanged in a contract, ensuring each party receives something of comparable worth.

Rare Coins

Unique and uncommon coins that are sought after by collectors due to their historical, numismatic, or investment value.

Preexisting Duty Rule

A legal principle stating that performing a duty one is already legally obligated to perform does not constitute valid consideration for a new contract.

Unforeseen Difficulties

Challenges or complications that could not have been predicted or expected, often affecting the execution of plans or projects.