Choose the Word or Phrase in [ ] Which Will

question 160

Short Answer

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
-If you want to create a living trust that provides tax advantages,you will need to establish [a revocable | an irrevocable] trust.

---

Definitions:

Statute of Limitations

A regulation specifying the latest allowable date to initiate legal proceedings after a specific event.

UCC

Short for Uniform Commercial Code, a comprehensive set of laws governing all commercial transactions in the United States.

Sales Contract

A legally binding agreement between a buyer and seller outlining the terms of a transaction for the sale and purchase of goods or services.

Breach Occurs

A situation where one party fails to fulfill their obligations under a contract.