BUSINESS ADMINISTRATION
BUSINESS LAW
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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testamentary capacity
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testamentary intent
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testamentary formality
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all of these
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Detailed explanation-1: -As per the law, only adults who are 18 years or above have the capacity to form a Will. Minors, except the ones who serve in the military or are married, usually do not have the right to create a Will.
Detailed explanation-2: -TESTAMENTARY CAPACITY Indian Succession Act, 1925 (sec 59), stipulates among other things: Any person of sound mind can make a Will. Persons, who are ordinarily insane, may make a Will during an interval while they are of sound mind.
Detailed explanation-3: -Testamentary capacity refers to the ability of a person to make a valid will. Most states have both an age requirement (usually 18 years old) and a mental capacity requirement.
Detailed explanation-4: -Testamentary capacity requirement This means that the testator must be at least 18-years-old and that the testator must have the mental ability at the time he executes his (or her) last will and testament to understand what it means to make a will.
Detailed explanation-5: -[1] As used in the Estates Code, the term “of sound mind” means “having testamentary capacity.” Testamentary capacity requires that at the time of the execution of the will the decedent must have had sufficient mental ability to: understand the business in which the decedent was engaged (the making of a will);