Asked by shamimi samsudin on Jul 03, 2024
Verified
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.
Donee Beneficiary
A third party that benefits from a contract between two other parties, especially in cases where a party promises to make a gift or confer a benefit to someone who is not a party to the contract.
Stockbroker
A professional who buys and sells stocks and other securities on behalf of clients, typically for a commission or fee.
Valentine's Gift
A present given to express affection or love on Valentine's Day, typically symbolizing romantic interest or appreciation.
- Differentiate among various categories of third-party beneficiaries.
Verified Answer
Learning Objectives
- Differentiate among various categories of third-party beneficiaries.
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