Question: PLEASE HELP ME! i need to know asap:) 2 pt Question 21 On his nephew's twenty-first birthday, Elmer gave the nephew $10,000 on the condition
PLEASE HELP ME! i need to know asap:)
2 pt Question 21 On his nephew's twenty-first birthday, Elmer gave the nephew $10,000 on the condition that the nephew use the money to purchase long-term investment bonds. The nephew, however, spent the money on a three month Caribbean cruise. If Elmer sues to recover the $10,000 from his nephew, what result is likely? O Elmer cannot recover the money because he made a completed gift to the nephew. O Elmer cannot recover the money because the gift was an effective gift causa mortis. O Elmer can recover the money because he made a conditional gift to his nephew and the nephew did not comply with the conditions. O The nephew is liable for conversion under these circumstances. Question 22 2 p George rented a car from Rent-a-Car Co. When he opened the glove compartment, George found a wallet containing $500, but no identification. The wallet is most likely: O Lost property. O Mislaid property. Abandoned property. O Stolen property
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
