Unit 8: Quiz 3 Flashcards
Likely to occur at any moment.
imminent
A contract renting land, buildings, etc, to another for a specified period of time and payment.
lease
To put under legal obligation
legally binding
A check register is a book of forms that provides space for writing in the dates, amounts, and payees for all checks.
register
Having signed or joined in signing a document
signatory
The process of checking information for completeness and accuracy
verify
Define a bill of sale
Written evidence of the transfer of title from one party to another
What three things should a bill of sale include?
a. description
b. date
c. signatures
Why is it important to know what the intestacy laws of your state are?
Because that is what determines the distribution of your assets when you die if you do not have a will.
What is the preferred place to store your will?
A safe deposit box
An instrument for measuring distance traveled, such as on an automobile
odometer
a person who has died
decedent
directs medical personnel to withhold or withdraw “heroic measures” or life-support
living will
a document that states the decedents wishes for the distribution of his/her assets
will
a document that gives legal rights to a designated person to handle your financial affairs and make and manage your health care decisions in the event that you can no longer do so
durable power of attorney
