Mary gives Jack an amount of money to be used to look after her children while she is away.Jack is the legal owner of the money given to him.

Question

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When Mary gives Jack the money, he becomes the legal owner of it and is responsible for using it for the intended purpose of looking after her children while she is away. However, he has a fiduciary duty to use the money for its intended purpose and is not free to use it for his own personal use.

Mary Gives Jack an Amount of Money to Be Used