If the Testator Does Not Own an Item at the Time

question 3

Multiple Choice

If the testator does not own an item at the time of death, the person named to receive it receives nothing. This is known as

• A) a dispositive provision.
• B) ademption.
• C) incorporation by reference.
• D) a specific legacy.

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Definitions:

Indorse

To sign the back of a financial instrument, such as a check, to make it payable to someone other than the original payee or to endorse a document formally.

Payee

The party in a financial transaction who receives the payment.

Negotiating

Negotiating involves discussing terms and conditions with the goal of reaching an agreement or compromise on matters of business, trade, or interpersonal issues.

Dishonored

A term referring to a financial instrument, such as a check, that has been refused payment by the bank upon presentation.