Ruth is visiting her granddaughter Marcy and decides to give Marcy her very expensive cameo brooch. The brooch, an heirloom, has been in the family for over 100 years and is the only item in a safe in Ruth's home. Ruth offers the brooch to Marcy who accepts. Ruth then gives Marcy the only key to the safe. According to the information given in this case, which of the following statements is true regarding the gift?
A) This is not a valid gift because there has been no delivery.
B) This is a valid gift because there has been an actual delivery.
C) This is a testamentary gift and Marcy can claim the gift only after Ruth's death.
D) This is a valid gift because there has been a constructive delivery.
E) This is not a valid gift because Ruth must provide a document for chain of custody.
Correct Answer:
Verified
Q55: If Landon, who is 80 years old,
Q56: Seth takes his laundry to Denise's Dry
Q57: A(n) _ lien arises when someone contributes
Q58: You and your roommate are driving through
Q62: A(n)_ means that an adjoining landowner cannot
Q62: Wally Wanderer finds an abandoned ranch in
Q64: In 2008, Donald gives Tony a life
Q68: When the owner of an old airplane
Q81: What is meant by a life estate
Q94: If your home is being foreclosed on,you
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents