A Gift That Is Specified in a Will as "I

question 37

Multiple Choice

A gift that is specified in a will as "I leave $5,000 in cash to my son" is a

• A) General legacy.
• B) Specific legacy.
• C) Demonstrative legacy.
• D) Residual legacy.
• E) Devise.

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Definitions:

Express Bailment

A bailment agreement formed by explicit agreement between the bailor and bailee regarding the possession and care of an item.

Implied Bailment

A bailment relationship formed without explicit agreement, based on the circumstances implying that the possessor of personal property is expected to return it to the owner.

Liability

The state of being responsible for something, especially in terms of legal or financial obligations.

Hotel Safe

A secure lockbox provided in hotel rooms for guests to store their valuables during their stay.