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: -A testamentary will is a traditional will, aka last will and testament. It is a legal document that is used to transfer holdings in an estate to other people or organizations after the death of the person who makes the will, officially known as the testator.
Detailed explanation-2: -Testamentary Succession: Where succession is govern by a testament or a will, it is called testamentary succession. Under Hindu Law, a Hindu male or female has the capability to make a will of his/her property in favour of anyone. In such cases, the property will devolve according to the will of the deceased.
Detailed explanation-3: -Undue influence’ defined.-(1) A contract is said to be induced by ‘undue influence’ where the relations subsisting between the parties are such that one of the parties is in a position to dominate the will of the other and uses that position to obtain an unfair advantage over the other.
Detailed explanation-4: -The Last Will and Testament is a legal document by a person called the testator that states the distribution of his assets and possessions, also his wish regarding custody of minor dependents and management of accounts and interests.