Gifts in will can be specific, general, or residuary

Indicate whether the statement is true or false

TRUE

Business

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A party has given consideration for a contract if that party suffers a legal detriment even if the other party does not receive a benefit.

a. true b. false

Business

The concept of "limited liability" of a corporation means that if, during any year, the company's costs exceed its revenue, the company is not liable for the difference even if its assets are greater than its liabilities.

a. true b. false

Business