Intangible property lacks a physical existence; it exists only because of economic rights the property possesses.
Answer the following statement true (T) or false (F)
True
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Six months before filing for bankruptcy, Shirley sold her new car to her brother for $100 so that her creditors could not claim it. The market value of the car was $8,000 at the time of the sale. Under these circumstances, the transfer is ________.
A. voidable by the trustee because Shirley did not receive fair consideration for this transfer B. voidable by the creditors because it was done with intent to defraud the creditors C. not voidable because the transfer occurred between two relatives D. not voidable by the trustee because the transfer occurred 6 months before Shirley filed her bankruptcy petition
A sales-oriented firm:
a. carefully identifies market segments. b. extensively uses relationship-marketing strategies. c. extensively uses personal selling and advertising. d. increases sales by creating customer value and satisfaction.
In 1995, Jack executed a valid will in which he left his entire estate to the Heart Fund. In 2000, Jack was declared incompetent and committed to an institution. At his death in 2005, his son, Brian, who was his sole survivor, contested the will claiming that Jack was obviously incompetent. Will Brian prevail with this argument? Explain
Genevieve, a twenty-year-old, wants to execute a will before she undertakes a moun¬tain-climbing trip on a peak in the Himalaya Mountains. In most states, the legal age for executing a will is
a. sixteen. b. eighteen. c. twenty-one. d. any age.