Jock Makes a Will

question 23

Multiple Choice

Jock makes a will.As a person who makes a will,Jock is

• A)an administrator.
• B)an executor.
• C)a settlor.
• D)a testator.

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Definitions:

Secured Bond

A type of bond that is backed by collateral, providing greater assurance to the lender that principal and interest payments will be made.

Equity Bond

An investment instrument that combines features of both equity and debt, often structured to convert to equity under certain conditions.

Income Bond

A bond that pays interest to its holders only if the issuing company has earned enough profits to cover the interest payments.

Business Law

The body of law that governs business and commercial transactions, including contracts, property, and liability.