Grant and Hester Enter into a Con-Tract for a Sale

question 19

Multiple Choice

Grant and Hester enter into a con-tract for a sale of Hester's Pastoral Valley Orchard.This contract

• A)is prohibited.
• B)must be oral to be enforceable.
• C)must be in writing to be enforceable.
• D)must be oral and in writing to be enforceable.

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Definitions:

Charge and Discharge Statement

A financial report detailing the charges (debts or obligations) and discharges (payments or settlements) within a specific period.

Remainderman

An individual who inherits or is entitled to inherit property upon the expiration of a life estate.

Estate Accounting

The process of preparing and managing the financial records of an individual's estate following their death, including the calculation of assets, liabilities, and distribution to heirs.

Probate

The legal process through which a deceased person’s will is validated and the estate is settled, involving distribution of assets and payment of debts.