A codicil is an instrument made after a will and modifying it in some respects.
A bill of sale passes title of personal property from vendor to vendee.
Consideration may include money, personal services, or even love and affection.
Chattel paper is the same thing as a real-property deed and never concerns a lease or goods.
Correct Answer
D. Chattel paper is the same thing as a real-property deed and never concerns a lease or goods.
AI Explanation
The false statement confuses chattel paper with real-property conveyancing. In "Definitions and General Terms," the booklet says chattel paper evidences both an obligation to pay money and a security interest in a lease or specific goods. For contrast, a bill of sale passes title to personal property, while a deed or conveyance concerns real property.
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