When a Testator Provides for a Bequest of His Gold

question 46

Multiple Choice

When a testator provides for a bequest of his gold watch to his nephew, but the gold watch is not owned by the testator at the time of death: __________.

• A) the nephew is entitled to an equivalent amount of cash.
• B) the executor must purchase a similar gold watch for the nephew if funds are available.
• C) the bequest to the nephew fails by ademption.
• D) all legacies in the estate abate to provide funds to purchase a gold watch for the nephew.

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Definitions:

SST

SST stands for Sum of Squares Total, a term used in statistics to describe the total variation within a dataset.

Determination

In the context of statistical analysis, often refers to the degree of variance in observations explained by the model, usually in the form of the coefficient of determination (R-squared).

Estimated Regression Equation

An equation that estimates the relationship between dependent and independent variables in a regression model.

SST

Total Sum of Squares; a measure that quantifies the total variance in the dependent variable that is to be explained by the independent variable(s) in a model.