[Disputed Ring] While Working in the Yard Megan Found a Beat

question 3

Multiple Choice

[Disputed Ring] While working in the yard Megan found a beat up ring. Taylor, an eighteen-year-old teenager and neighbor, came over to visit and liked the ring. Megan told her, "You can have this old thing if you would like." Taylor replied, "I really like it - Maybe it's a real diamond!" Megan laughingly told her that there was a one in a billion chance of that and that Megan was more likely to win the lottery. A few months later Taylor ran over to Megan's house and told Megan that the ring actually was a diamond worth thousands! Taylor gave Megan the ring to examine. Megan put it in her pocket and told Taylor that she would never have given it to her if she had realized its value and that possession was back where it had always belonged. Megan also told Taylor that Taylor failed legally to accept the gift because neither party knew its true value and that because Megan did not sign any document turning over title, it was impossible for legal ownership to pass. Taylor sues.
-Which of the following statements is true regarding Megan's statement that Taylor could not have validly accepted the ring?

• A) If the ring is valued at $500 or over, then Megan is correct that Taylor could not have validly accepted the ring because a writing transferring title would have been needed to validate acceptance.
• B) If the ring is valued at $1,000 or over, then Megan is correct that Taylor could not have validly accepted the ring because a writing transferring title would have been needed to validate acceptance.
• C) Megan is correct that Taylor could not have validly accepted the ring because a writing transferring title would have been needed to validate acceptance.
• D) Megan is correct that Taylor could not have validly accepted the ring when she did not understand its true value.
• E) Megan is incorrect, and Taylor validly accepted the ring as a gift.

---

Definitions:

Liter

A metric unit of volume equal to 1,000 cubic centimeters or approximately 0.264 gallons.

Apothecary System

An older system of measurement that includes units such as fluid ounces, fluid drams, pints, and quarts.

Metric System

A decimal system of measurement based on the meter, liter, and gram as units of length, capacity, and weight or mass, respectively.

Fluid Dram

A unit of volume in the apothecaries' system, equivalent to 1/8 of a fluid ounce.