In January,Erwin Told David,his Nephew,that He Would Give Him a Car

question 27

True/False

In January,Erwin told David,his nephew,that he would give him a car when he graduates from college.David graduated in May.If Erwin refuses to give David a car,David can sue him for breach of an inter vivos gift.

---

Definitions:

Statement

A document or report summarizing transactions, balances, and other financial information for a specified time period.

Payment

The exchange of funds or items for a service or product.

Balance Due

The amount of money owed on an account or invoice after payments have been applied.

Billing System

A combination of software and procedures that is used to issue and manage invoices and financial transactions for goods or services.