Asked by Marisa Tavarez on Jun 07, 2024
Verified
Which of the following debts of the decedent must be paid upon his/her death?
A) All of the decedent's debts
B) Only debts secured by the decedent's property
C) Only debts covered by the statute of frauds
D) Only consumer debts
Statute of Frauds
A legal principle requiring certain contracts to be in writing and signed by all parties involved to be enforceable, typically including contracts for the sale of land, long-term contracts, and contracts for goods over a certain value.
Consumer Debts
Debts incurred by an individual primarily for personal, family, or household purposes, not for business or investment.
- Acquire knowledge of the fundamental aspects of the probate process, including the settlement of debts and allocation of assets.
Verified Answer
TW
Tesha WatkinsJun 14, 2024
Final Answer :
A
Explanation :
When a person dies,an orderly procedure is needed to collect his property,settle all of his debts,and distribute any remaining property to those who will inherit it under his will or by intestate succession.
Learning Objectives
- Acquire knowledge of the fundamental aspects of the probate process, including the settlement of debts and allocation of assets.