Mr Jacob, Who Is Terminally Ill, Writes a Will Transferring

question 38

Multiple Choice

Mr. Jacob, who is terminally ill, writes a will transferring all his assets to his daughter Silvia, in the event of his death. The doctors say that Mr. Jacob will live for about six months. A day after the will is written, Silvia wishes to transfer her expected inheritance to her son, Jacob Jr. This assignment will be ________.

• A) valid
• B) conditionally valid
• C) invalid
• D) re-assignable by Jacob Jr.

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Definitions:

Conflicts Of Interest

Situations where an individual's or organization's personal interests could potentially influence or appear to influence their decisions in their official capacity.

Supermajority Vote

A requirement that a motion must receive significantly more than a simple majority of votes, often two-thirds or three-quarters, to be approved.

Employee-Shareholder

An employee-shareholder is an employee who also holds shares in the company they work for, often benefiting from stock options or equity compensation plans.

Dividends

Payments made by a corporation to its shareholders, usually as a distribution of profits.