Premarital Agreements/ Antenuptial Contracts Self-Quiz

 

 

 

 

 

 

 

 

 

Spencer and Katherine want to get married; however, since they both have been married before and have substantial assets, they think they should prepare some type of premarital agreement. Before the wedding, they come to an oral agreement as to how their property should be distributed upon death or divorce. Due to all the work required to plan the wedding, they did not have a chance to put their wishes in writing. Despite this oversight, the agreement is still valid.
True
False
Gregory and Stephanie were married six months ago. At the time they signed a prenuptial agreement. Stephanie was forthright with her disclosure of property she owned. Gregory was not so forthcoming with information. In fact, he failed to disclose that he owned property in Bermuda, valued at $1.3 million. When they broke up a few days shy of their first anniversary, Stephanie finally found out about the hidden property. Under what grounds can the court invalidate the agreement?
Choice 1 The Statute of Frauds.
Choice 2 A lack of consideration.
Choice 3 The requirement of adequate disclosure.
Choice 4 A theory the agreement is unconscionable.
Josephine and Justin are scheduled to get married in two days. The night before the wedding, Justin presented Josephine with a premarital agreement for her signature. Hastily, Josephine signed the agreement so she could go back to preparing for the wedding. She was not permitted to keep a copy of the agreement after she signed it. Later, if Josephine wants to have the agreement invalidated, what would be her best argument?
Choice 1 The agreement was signed under duress.
Choice 2 The agreement was signed without consulting a lawyer.
Choice 3 The agreement was unconscionable.
Choice 4 The agreement lacked full disclosure.
Hillary and Bill were both 23 years old when they got engaged. Hillary came from a very wealthy family; Bill was a struggling law student. Hillary’s father insisted that they sign a prenuptial agreement. To save money, Hillary’s father suggested that Hillary and Bill use their family attorney to prepare the agreement. Ten years later, when they break up, Bill is very successful; Hillary’s family is broke. To get a bigger share of their assets, Hillary tries to have the prenuptial agreement invalidated. What is Hillary’s best argument?
Choice 1 The agreement was signed under duress.
Choice 2 The agreement failed to adequately disclose all the assets.
Choice 3 Only one attorney was used to prepare the agreement.
Choice 4 None of the above.
Ike and Tina live in a state that has adopted the Uniform Premarital Agreement Act (“UPAA”). Before their wedding they draft and sign a premarital agreement. A week before the wedding, they decide to call it off and instead continue to live together. Two years later they break up and consult the premarital agreement as guidance in distributing their property. What would be the likely outcome?
Choice 1 The court would refuse to honor the agreement; instead it would consult the UPAA to distribute the property.
Choice 2 The court would refuse to honor the agreement; instead it would consult state law to distribute the property.
Choice 3 The court would honor the agreement in its entirety.
Choice 4 The court would partially honor the agreement.
Jane and Dick’s prenuptial agreement states that during their marriage Dick will take out the garbage on Tuesday nights. Dick refuses to take out the garbage because it smells and gets his clothes dirty. Jane brings an action to enforce the clause in the prenuptial agreement. How will the court most likely hold?
Choice 1 The court will enforce an agreement that regulates matters taking place during the marriage.
Choice 2 The court will be unwilling to enforce an agreement that regulates matters taking place during marriage.
Choice 3 The court will dismiss the cause of action because Jane can only enforce the prenuptial agreement once Jane and Dick divorce.
Choice 4 None of the above.
Sara and Samuel were married five years ago. At the time, they signed a prenuptial agreement. The agreement had a sunset provision that it would expire in five years. Since Sara did not want the agreement to expire, she and Samuel signed another agreement to extend the provisions of the original agreement. This second agreement is permissible.
True
False
Lydia and John signed a prenuptial agreement when they married two years ago. At the time, both parties fully disclosed their property holding. Subsequently, John acquired a couple pieces of real estate. He is required to rewrite the agreement to include this after-acquired property?
True
False

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