Disagree with you both.
Either your getValue() method can return an object in which case null is possible and your first block will throw an Exception . . .
Or, it can return a boolean, in which case your second block might run.
I think the most likely result of that code is
. . .
A compiler error (except maybe if it has a Boolean return type). Try it and see.
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The null reserved
word means a "state of non-existence" (I think that's what the Java Language Specification calls it). It can only be applied to a reference type.
The false reserved word is a boolean literal (opposite true) meaning the same as the common English word of the same spelling. It can only be applied to a boolean primitive or (in Java5 or higher only) by boxing and unboxing to a Boolean wrapper object.