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Having written a last will and testament

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Factual Application40) Which of the following statements is true of discharge of contracts?A) Anticipatory breach discharges the breaching party's obligations to the contract.B) Substantial performance is sufficient to discharge a contract.C) Tender of performance discharges a party's contractual obligations.D) Tender is a conditional offer by contracting party to perform his or her obligations under thecontract.

A C-corporation with a $100,000 E & P balance before distributions made a year-end distribution of land to its sole shareholder. The land distributed has a $150,000 fair market value and a $130,000 basis. The shareholder's basis in his shares of stock is $10,000 before the distribution. Which of the following statements is false?a)The corporation's E & P balance after the distribution is $0.b)The shareholder recognizes $100,000 of dividend income.c)The corporation must recognize a $20,000 gain.d)The shareholder recognizes $20,000 of capital gain.

The statute of limitations for all claims is one year. On October 18, 2016, Paul failed to repair Susan's car as they agreed in a contract. Susan sued Paul for breach of contract on October 2, 2017. Susan failed to sue Richard, who under the contract, was jointly liable for any breach. Paul mentioned the lawsuit to Richard on November 15, 2017. On October 9, 2019, Susan sought to amend her complaint to add a claim against Richard for breaching a separate contract to repair her truck in March 2017. Which of the following is true?A.She will be unable to amend because she did not do so within 21 days.B.Because of her delay, a court will be prohibited from allowing her amended complaint against Richard to relate back to the date of the original complaint.C.The amendment will not relate back because the claim against Richard does not arise out of the same facts as the claim against Paul.D.She will be able to amend because there would be no prejudice to Paul.

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