The Provisions of a Will Currently Undergoing Probate Are: "One

question 6

Multiple Choice

The provisions of a will currently undergoing probate are: "One thousand shares of Wal-mart stock to my son;$10,000 in cash from my savings account to my brother;$5,000 in cash to my daughter;and any remaining property divided equally between my son and daughter." At the time of death,the estate included 1,400 shares of Walmart stock and $25,000 cash in the savings account.What would the son have received from the settlement of the estate?

• A)1,000 shares of Walmart stock and $15,000 in cash
• B)1,000 shares of Walmart stock and $0 in cash
• C)1,000 shares of Walmart stock and $10,000 in cash
• D)1,200 shares of Walmart stock and $5,000 in cash
• E)1,400 shares of Walmart stock and $5,000 in cash

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Definitions:

Reasonable Consumer

A legal standard referring to a hypothetical person who is considered average or typical from the perspective of the consumer population, used in cases related to consumer protection and advertising.

Mislead

To guide someone into a wrong direction or give someone a wrong idea or impression.

Cooling-Off Rule

A federal regulation allowing consumers a set period of time to cancel contracts or purchases made at home or at locations other than the normal business premises of a company.

Federal Trade Commission

A federal agency established to protect consumers and ensure a strong competitive market by enforcing antitrust and consumer protection laws.