Will – NBC Institute

BL – Nov 2020 – L1 – SA – Q17 – Law of Trusts

Objective question on why a will is considered an ambulatory document.

Question

17. A will is said to be an ambulatory document because it
A. Is signed by two witnesses
B. Must have two executors
C. Takes effect after the death of the maker
D. Is written
E. Is prepared by a lawyer

Answer

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Tags: Ambulatory Document, Law of Trusts, Legal Terminology, Testamentary Documents, Will
Level: Level 1

Topic: Law of Trusts
Series: NOV 2020

BL – Nov 2011 – L1 – SB – Q6 – Negotiable Instruments

Understanding the characteristics of negotiable instruments, banker's duties, revocation of wills, and parties to a bill of exchange.

Question

(a) State FOUR characteristics of a negotiable instrument. (4 Marks)

(b) Mr. Eddie is a customer of Perfect Bank Limited. He issued a cheque for the sum of N20,000 to Mr. Jossy. At the time of issuing the cheque, his account was in credit to the tune of N150,000. The cheque was dishonored by the bank. Mr. Eddie wants to sue the bank. You are required to advise Mr. Eddie. (5 Marks)

(d) State the parties to a Bill of Exchange. (3 Marks)

Answer

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Tags: Banker-Customer Relationship, Bill of Exchange, Negotiable Instruments, Revocation, Will
Level: Level 1

Topic: Negotiable Instruments
Series: NOV 2011

BL – Nov 2011 – L1 – SA – Q16 – Law of Trusts

Identify the legal term for a written document outlining the distribution of a testator’s estate.

Question

A written document by which a person called the Testator signifies his/her wishes on the distribution of his/her estate after his/her death is called:
A. Assignment
B. Will
C. Mortgage
D. Lease
E. Devolution

Answer

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Tags: Estate Planning, Testamentary, Will
Level: Level 1

Topic: Law of Trusts
Series: NOV 2011

BL – May 2013 – L1 – SA – Q16 – Law of Trusts

This question tests the knowledge of how trustees of a property are appointed.

Question

The trustees of a property settled in a Will are appointed by the ___________.

Answer

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Tags: Appointment, Trust Law, Will
Level: Level 1

Topic: Law of Trusts
Series: MAY 2013

BL – May 2022 – L1 – SA – Q18 – Law of Trusts

Define what it means for a person to die intestate.

Question

In law, a person is said to have died ‘intestate’ if he died without
A. Leaving any estate for his children
B. Any money in the bank
C. Writing a Will
D. Paying for all his debts
E. Paying his estate agency fee

Answer

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Tags: Intestate, Succession Law, Will
Level: Level 1

Topic: Law of Trusts
Series: MAY 2022

BL – Nov 2019 – L1 – SA – Q19 – Law of Trusts

Identifies the persons named in a will to administer the testator's estate.

Question

Persons named in a will to administer the testator’s estate are:
A. Representatives
B. Administrators
C. Custodians
D. Trustees
E. Executors

Answer

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Tags: Executors, Law of Trusts, Testator’s Estate, Will
Level: Level 1

Series: NOV 2019

BL – May 2024 – L1 – SA – Q20 – Company Law, The Nigerian Legal System

Administration of estate when a Will is declared invalid.

Question

When a Will fails or is declared invalid by the court, the administration of the estate of the testator will be governed by rules of:
A. Intestacy
B. Testacy
C. Equity
D. Good conscience
E. Trust

Answer

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Tags: Estate Administration, Intestacy, Legal Framework, Trust, Will
Level: Level 1

Topic: Company Law, The Nigerian Legal System
Series: MAY 2024

BL – Nov 2020 – L1 – SA – Q17 – Law of Trusts

Objective question on why a will is considered an ambulatory document.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Ambulatory Document, Law of Trusts, Legal Terminology, Testamentary Documents, Will
Level: Level 1

Topic: Law of Trusts
Series: NOV 2020

BL – Nov 2011 – L1 – SB – Q6 – Negotiable Instruments

Understanding the characteristics of negotiable instruments, banker's duties, revocation of wills, and parties to a bill of exchange.

Question

(a) State FOUR characteristics of a negotiable instrument. (4 Marks)

(d) State the parties to a Bill of Exchange. (3 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Banker-Customer Relationship, Bill of Exchange, Negotiable Instruments, Revocation, Will
Level: Level 1

Topic: Negotiable Instruments
Series: NOV 2011

BL – Nov 2011 – L1 – SA – Q16 – Law of Trusts

Identify the legal term for a written document outlining the distribution of a testator’s estate.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Estate Planning, Testamentary, Will
Level: Level 1

Topic: Law of Trusts
Series: NOV 2011

BL – May 2013 – L1 – SA – Q16 – Law of Trusts

This question tests the knowledge of how trustees of a property are appointed.

Question

The trustees of a property settled in a Will are appointed by the ___________.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Appointment, Trust Law, Will
Level: Level 1

Topic: Law of Trusts
Series: MAY 2013

BL – May 2022 – L1 – SA – Q18 – Law of Trusts

Define what it means for a person to die intestate.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Intestate, Succession Law, Will
Level: Level 1

Topic: Law of Trusts
Series: MAY 2022

BL – Nov 2019 – L1 – SA – Q19 – Law of Trusts

Identifies the persons named in a will to administer the testator's estate.

Question

Persons named in a will to administer the testator’s estate are:
A. Representatives
B. Administrators
C. Custodians
D. Trustees
E. Executors

Answer

Find Related Questions by Tags, levels, etc.

Tags: Executors, Law of Trusts, Testator’s Estate, Will
Level: Level 1

Series: NOV 2019

BL – May 2024 – L1 – SA – Q20 – Company Law, The Nigerian Legal System

Administration of estate when a Will is declared invalid.

Question

When a Will fails or is declared invalid by the court, the administration of the estate of the testator will be governed by rules of:
A. Intestacy
B. Testacy
C. Equity
D. Good conscience
E. Trust

Answer

Find Related Questions by Tags, levels, etc.

Tags: Estate Administration, Intestacy, Legal Framework, Trust, Will
Level: Level 1

Topic: Company Law, The Nigerian Legal System
Series: MAY 2024

Question Tag: Will

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BL – Nov 2020 – L1 – SA – Q17 – Law of Trusts

Objective question on why a will is considered an ambulatory document.

BL – Nov 2011 – L1 – SB – Q6 – Negotiable Instruments

Understanding the characteristics of negotiable instruments, banker's duties, revocation of wills, and parties to a bill of exchange.

BL – Nov 2011 – L1 – SA – Q16 – Law of Trusts

Identify the legal term for a written document outlining the distribution of a testator’s estate.

BL – May 2013 – L1 – SA – Q16 – Law of Trusts

This question tests the knowledge of how trustees of a property are appointed.

BL – May 2022 – L1 – SA – Q18 – Law of Trusts

Define what it means for a person to die intestate.

BL – Nov 2019 – L1 – SA – Q19 – Law of Trusts

Identifies the persons named in a will to administer the testator's estate.

BL – May 2024 – L1 – SA – Q20 – Company Law, The Nigerian Legal System

Administration of estate when a Will is declared invalid.

BL – Nov 2020 – L1 – SA – Q17 – Law of Trusts

Objective question on why a will is considered an ambulatory document.

BL – Nov 2011 – L1 – SB – Q6 – Negotiable Instruments

Understanding the characteristics of negotiable instruments, banker's duties, revocation of wills, and parties to a bill of exchange.

BL – Nov 2011 – L1 – SA – Q16 – Law of Trusts

Identify the legal term for a written document outlining the distribution of a testator’s estate.

BL – May 2013 – L1 – SA – Q16 – Law of Trusts

This question tests the knowledge of how trustees of a property are appointed.

BL – May 2022 – L1 – SA – Q18 – Law of Trusts

Define what it means for a person to die intestate.

BL – Nov 2019 – L1 – SA – Q19 – Law of Trusts

Identifies the persons named in a will to administer the testator's estate.

BL – May 2024 – L1 – SA – Q20 – Company Law, The Nigerian Legal System

Administration of estate when a Will is declared invalid.

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Question Tag: Will

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BL – Nov 2020 – L1 – SA – Q17 – Law of Trusts

Objective question on why a will is considered an ambulatory document.

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BL – Nov 2011 – L1 – SB – Q6 – Negotiable Instruments

Understanding the characteristics of negotiable instruments, banker's duties, revocation of wills, and parties to a bill of exchange.

You're reporting an error for "BL – Nov 2011 – L1 – SB – Q6 – Negotiable Instruments"

BL – Nov 2011 – L1 – SA – Q16 – Law of Trusts

Identify the legal term for a written document outlining the distribution of a testator’s estate.

You're reporting an error for "BL – Nov 2011 – L1 – SA – Q16 – Law of Trusts"

BL – May 2013 – L1 – SA – Q16 – Law of Trusts

This question tests the knowledge of how trustees of a property are appointed.

You're reporting an error for "BL – May 2013 – L1 – SA – Q16 – Law of Trusts"

BL – May 2022 – L1 – SA – Q18 – Law of Trusts

Define what it means for a person to die intestate.

You're reporting an error for "BL – May 2022 – L1 – SA – Q18 – Law of Trusts"

BL – Nov 2019 – L1 – SA – Q19 – Law of Trusts

Identifies the persons named in a will to administer the testator's estate.

You're reporting an error for "BL – Nov 2019 – L1 – SA – Q19 – Law of Trusts"

BL – May 2024 – L1 – SA – Q20 – Company Law, The Nigerian Legal System

Administration of estate when a Will is declared invalid.

You're reporting an error for "BL – May 2024 – L1 – SA – Q20 – Company Law, The Nigerian Legal System"

BL – Nov 2020 – L1 – SA – Q17 – Law of Trusts

Objective question on why a will is considered an ambulatory document.

You're reporting an error for "BL – Nov 2020 – L1 – SA – Q17 – Law of Trusts"

BL – Nov 2011 – L1 – SB – Q6 – Negotiable Instruments

Understanding the characteristics of negotiable instruments, banker's duties, revocation of wills, and parties to a bill of exchange.

You're reporting an error for "BL – Nov 2011 – L1 – SB – Q6 – Negotiable Instruments"

BL – Nov 2011 – L1 – SA – Q16 – Law of Trusts

Identify the legal term for a written document outlining the distribution of a testator’s estate.

You're reporting an error for "BL – Nov 2011 – L1 – SA – Q16 – Law of Trusts"

BL – May 2013 – L1 – SA – Q16 – Law of Trusts

This question tests the knowledge of how trustees of a property are appointed.

You're reporting an error for "BL – May 2013 – L1 – SA – Q16 – Law of Trusts"

BL – May 2022 – L1 – SA – Q18 – Law of Trusts

Define what it means for a person to die intestate.

You're reporting an error for "BL – May 2022 – L1 – SA – Q18 – Law of Trusts"

BL – Nov 2019 – L1 – SA – Q19 – Law of Trusts

Identifies the persons named in a will to administer the testator's estate.

You're reporting an error for "BL – Nov 2019 – L1 – SA – Q19 – Law of Trusts"

BL – May 2024 – L1 – SA – Q20 – Company Law, The Nigerian Legal System

Administration of estate when a Will is declared invalid.

You're reporting an error for "BL – May 2024 – L1 – SA – Q20 – Company Law, The Nigerian Legal System"

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