Mary goes to her stockbroker, purchases 30 shares of P & G stock, and instructs the broker to register the stock in her husband Warren's name. If this stock is intended as a Valentine's gift, Warren becomes:
A) a donee beneficiary.
B) a transferee.
C) a delegatee.
D) an assignee.

Question

Quizplus · Accepted Answer

Warren becomes a donee beneficiary because he is receiving the shares as a gift from Mary, without giving consideration in return.

Mary Goes to Her Stockbroker, Purchases 30 Shares of P