A Trust That a Grantor Executes Orally in Contemplation of Immediate

question 62

True/False

A trust that a grantor executes orally in contemplation of immediate death is a testamentary trust.

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Definitions:

Puffery

Exaggerated or boasting statements made by sellers about the quality or performance of a product, generally considered legal and not actionable as fraud.

Securities Act Of 1933

A U.S. federal law enacted to ensure more transparency in financial statements so investors can make informed decisions regarding securities.

Securities And Exchange Commission

A U.S. federal agency responsible for regulating the securities industry and enforcing federal securities laws.

Federal Securities Laws

Regulations established to govern the sale and distribution of securities, aimed at protecting investors from fraud.