In Which of the Following Cases, Will the Presumption of No

question 76

Multiple Choice

In which of the following cases, will the presumption of no intention to create legal relations arise?

• A)an agreement for the sale of a motor car entered into by two brothers
• B)an agreement for the sale of a house entered into by two life long best friends, both of whom are realtors.
• C)An agreement for the sale of a painting entered into between two sisters
• D)a lease agreement entered into between a mother and her son
• E)All of the above

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Definitions:

Retirement Savings

Funds accumulated for retirement, often involving tax advantages, through vehicles such as 401(k) plans, IRAs, or annuities.

AGI

Adjusted Gross Income, an individual's total gross income minus specific deductions, used in the United States tax system to determine taxable income.

Dependent Daughters

This term is not an official tax term but generally refers to daughters who qualify as dependents on someone's tax return due to financial support and other IRS criteria.

AGI

Adjusted Gross Income, which is gross income minus allowable deductions, used to determine taxable income on an individual's federal income tax return.