What is an "option" contract?
A) a separate contract to keep an offer open for a set period of time
B) an offer which, by its own term, does not expire for a set period of time
C) a notice that an offer has been revoked
D) an agreement that the offeree may revoke an offer at any time
A
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When is the personal representative's appointment for informal proceedings terminated??
A. ?When the formal closing ends B. ?Automatically upon closing of the estate C. ?When the personal representative has completed all duties that he/she is required to perform D. ?One year after the closing statement is filed, if no proceedings involving the personal representative are pending in the court
The form used to file a decedent’s last income tax return is:
a. the 1040. b. the 1310. c. both a and b d. None of the above. Income taxes are waived for a decedent.
A "transactional" law office generally performs the following services EXCEPT:
a. Conducting real estate closings b. Drafting commercial lease agreements c. Drafting Conditions, Covenants and Restrictions for homeowners' associations and condominium projects d. Handling divorces
a. concurrent b. statute of limitations c. condition precedent d. breach e. rescission f. novation g. performance h. accord and satisfaction i. condition subsequent j. impracticability ?Voluntary agreement to terminate contractual obligations.
Fill in the blank(s) with the appropriate word(s).