When a Gift Is Given by a Testator While Alive

question 14

Multiple Choice

When a gift is given by a testator while alive to a legatee or devisee with the intent that the gift is made in lieu of the legacy or devise, it is

• A) a lapsed legacy or devise.
• B) adeemed by extinction.
• C) adeemed by satisfaction.
• D) exempt property.

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Definitions:

Minority-owned Suppliers

Minority-owned suppliers are businesses that are at least 51% owned and operated by individuals from minority groups.

Women-owned Suppliers

Businesses that are at least 51% owned, controlled, and operated by one or more women.

Federal Government Regulations

Rules and laws implemented by the national government to control or manage various activities and industries across the country.

Supplier Development

Efforts by a company to improve the performance and capabilities of its suppliers through collaborative initiatives and training.