Under a Certain State's Law, the Legal Age for Executing

question 25

Multiple Choice

Under a certain state's law, the legal age for executing a will is eighteen. In that state, Mocha writes a will when she is diagnosed with a life-threatening illness at age sixteen. Mocha dies at age twenty-one. Her will is

• A)valid because of her diagnosis.
• B)valid because she was of sound mind.
• C)valid because of her age at death.
• D)invalid.

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Definitions:

Rights Offering

A provision allowing existing shareholders to purchase additional shares at a discount before the stock is offered to the public.

Subscription Price

The fixed price at which shares can be bought as part of a rights issue or initial offering, determined by the issuing company.

Rights Offering

A financial mechanism by which a company offers its existing shareholders the opportunity to purchase additional shares directly, often at a discount.