Examlex

Solved

A Universal Obligation Is an Obligation That Everyone Has, Regardless

question 7

True/False

A universal obligation is an obligation that everyone has, regardless of the social roles they occupy.


Definitions:

Totten Trust

is a type of revocable trust created by depositing funds into a bank account with a designated beneficiary upon the account holder's death.

Settlor

The person who creates a trust by transferring assets into the trust for the benefit of the trust's beneficiaries.

Joint Bank Account

A bank account held by two or more individuals, where each account holder has equal access and rights to the funds.

Remaindermen

Individuals who have a future interest in property after the end of a life estate or other particular interest.

Related Questions