Which of These Actions Are Applicable Under the Uniform Gifts

question 30

Multiple Choice

Which of these actions are applicable under the Uniform Gifts to Minors Act?

• A)Adults are prohibited from making gifts of unregistered securities to minors.
• B)Adults can make a gift of money to minors by depositing the money with a bank in an account in the donor's name.
• C)Gifts of registered securities can be made by merely delivering the securities to a bank trustee.
• D)Gifts of unregistered securities can be made by registering the securities in the name of another adult.

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Definitions:

First-Assignment-In-Time Rule

A principle stating that, in case of a conflict, the rights to a property or asset are granted to the first party to receive assignment or claim to it.

Third-Party Beneficiary

A person or group that benefits from a contract made between two other parties, despite not being a direct party to the contract.

Obligor's Approval

The consent or agreement of the individual or entity (obligor) responsible for performing an obligation, especially in contexts requiring their assent to changes or actions affecting their duties.

Assignment of Rights

The transfer of rights, properties, or obligations from one party to another.