Eunice Wants to Give Her Grandson $100,000 Because She Wants

question 6

Multiple Choice

Eunice wants to give her grandson $100,000 because she wants him to go to law school,but she is worried he will spend it on a sports car.Eunice should

• A)set up a trust for her grandson,so the trustee can ensure the money is spent well.
• B)sue her grandson for damages if he spends the money on a sports car.
• C)sue for specific performance if he buys the car,so she can get the new car.
• D)keep the money - the kid doesn't deserve it.
• E)make him sign a contract saying he will use the money for law school.

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Definitions:

Loan Balance

The amount of money that remains to be paid on a loan, excluding interest or fees that may accumulate.

Sales Tax

A percentage paid to the government of sales on products or services.

Square Foot

A unit of area measurement equal to a square measuring one foot on each side.

Installation Fee

An Installation Fee is a one-time charge for setting up a service or equipment, commonly applied in telecommunications, utilities, and appliance purchases.