subject
Business, 07.04.2020 00:50 terryonsavage543

Frank, a hypochondriac who was also very compulsive, was having minor surgery to repair a bone spur on his foot. He had just purchased a lottery ticket for a chance at the grand prize of $30,000,000. Frank's girlfriend, Bubbles, went with him to the hospital. While in the waiting room, Frank said to her, "Bubbles, I may not make it out of this bone spur surgery. Take my lottery ticket. If I don't make it, I hope you win and live it up, but please don't get another boyfriend." Bubbles replied, "I could never be happy without you."
A nurse saw and heard the whole exchange. Frank came out of the surgery just fine but with a sore foot. While he was recuperating, that evening, Bubbles watched the lottery drawing and discovered that Frank's ticket was indeed the winning ticket. She immediately moved out and collected the winnings. Frank saw her on television with her new boyfriend, George. She appeared to be very happy. He checked the numbers and discovered that she won with his ticket. Frank says that the lottery money is his.

Which of the following is true regarding rightful ownership of the lottery money?

A. At that point, he made a valid gift that could not be revoked.
B. He did not make a gift because he placed a condition on it.
C. He made an irrevocable gift at that time only if Bubbles never had another boyfriend; otherwise, she had to give the ticket and any resulting cash to Frank.
D. He made an irrevocable gift at that time if Bubbles refrained from having another boyfriend until she cashed the ticket; and, after the ticket was converted, the condition no longer applied.
E. None of these.

ansver
Answers: 1

Another question on Business

question
Business, 22.06.2019 17:30
Danielle enjoys working as a certified public accountant (cpa) and assisting small businesses and individuals with managing their finances and taxes. which general area of accounting is her specialty? danielle specialized in
Answers: 1
question
Business, 23.06.2019 00:40
On june 3, teal company sold to chester company merchandise having a sale price of $2,600 with terms of 2/10, n/60, f.o.b. shipping point. an invoice totaling $91, terms n/30, was received by chester on june 8 from john booth transport service for the freight cost. on june 12, the company received a check for the balance due from chester company. prepare journal entries on the teal company books to record all the events noted above under each of the following bases. (1) sales and receivables are entered at gross selling price. (2) sales and receivables are entered at net of cash discounts.
Answers: 3
question
Business, 23.06.2019 14:30
Which is an example of a short-term investment
Answers: 2
question
Business, 23.06.2019 15:00
"in the electricity industry, low average total costs are obtained only through large-scale production. in other words, the initial cost of setting up all the necessary wiring makes it risky and, most likely, unprofitable for competitors to enter the market. throughout much of the 20th century, many people viewed south africa’s de beers group as a monopoly because it controlled a large percentage of diamond production and sales. patents are granted to inventors of a product or process for a certain number of years. the reason for this is to encourage innovation in the economy. without the existence of patents, it is argued, research and development for improved electronics is unlikely to take place, since there’s nothing preventing another firm from stealing the idea, copying the product, and producing it without incurring the devel opment costs."which of the following best explains the barriers to entry that exist in this scenario? increasing returns to scale legal barriers exclusive ownership of a necessary resource
Answers: 1
You know the right answer?
Frank, a hypochondriac who was also very compulsive, was having minor surgery to repair a bone spur...
Questions
question
History, 24.02.2021 18:50
question
Mathematics, 24.02.2021 18:50
question
Health, 24.02.2021 18:50
question
Mathematics, 24.02.2021 18:50