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Category: Business Law
Arnold executed a one-page will, in which he devised his farm to Burton. Later, as the result of a quarrel with Burton, Arnold wrote the words, "I hereby cancel and revoke this will /s/ Arnold," in the margin of the will but did not destroy the will. Arnold then executed a deed to the farm, naming Connie as grantee, and placed the deed and will in ...
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Category: Business Law
Edwin Fuller, a bachelor, prepared his will in his office. The will, which contained no residuary clause, provided that one-third of his estate would go to his nephew, Tom Fuller, one-third to the city of Emanon to be used for park improvements, and one-third to his brother, Kurt. He signed the will in his office and then went to the office of his ...
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Category: Business Law
On March 10, John Carver executed his will, which was witnessed by William Hobson and Sam Witt. By his will, Carver devised his farm, Stonecrest, to his nephew, Roy White. The residue of his estate was given to his sister, Florence Carver. A codicil to his will executed April 15 of that year provided that $25,000 be given to Carver's niece, Mary Jo...
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Category: Business Law
Joe Brown gave to his wife, Mary Brown, $350,000 with which to buy real property. They orally agreed that title to the real property should be taken in the name of Mary Brown but that she should hold the property in trust for Joe Brown. There were two witnesses to the oral agreement, both of whom are still living. Mary purchased the property on Sep...
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Category: Business Law
Collins was trustee for the beneficiary Indolent under the will of Indolent's father. Indolent, a middle-age doctor, gave little concern to the management of the trust fund, contenting himself with receiving the income paid him by the trustee. Among the assets of the trust were one thousand shares of ABC Corporation and one thousand shares of XYZ C...