Examlex
Which of the following is TRUE?
Recognizable Beneficiaries
are individuals or entities that can clearly be identified as intended to benefit from a contract, trust, or legal arrangement, even if not directly party to it.
Agents of Beneficiaries
Individuals or entities acting on behalf of those who are to receive benefits or rights under a contract, will, or trust.
Birthday Present
A gift given to someone on the anniversary of their birth.
Insolvent
Insolvent denotes a state in which an individual or organization is unable to meet its financial obligations as debts become due because its liabilities exceed its assets.
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