An Ownership Interest in Property (An Estate) That Lasts Until

question 19

Multiple Choice

An ownership interest in property (an estate) that lasts until a named person or persons die is a(n)

• A) Totten trust.
• B) life estate.
• C) chose in action.
• D) inter vivos trust.

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Definitions:

Gold Standard

A monetary system in which the value of currency is directly linked to gold, whereby currencies can be exchanged for a specific amount of gold.

Deflation

Deflation is an economic condition characterized by a general decrease in prices of goods and services, often indicating a reduction in the supply of money or credit.

International Exchange Rate System

The framework through which countries manage the value and exchange of their currencies in relation to one another.

Gold Standard

A currency system that directly correlates the value of a nation's paper money or currency with the value of gold.