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In Contrasting the Computation of the Federal Gift and Estate

question 63

Essay

In contrasting the computation of the Federal gift and estate taxes, are past taxable gifts handled in the same fashion? Explain.


Definitions:

Subject Matter

The specific topic, content, or issue that is under discussion or consideration in a contract or legal document.

Express Contract

An agreement with clear, explicit terms that are communicated verbally or in writing between parties.

Implied Contract

A contract that arises not from words of agreement but from the conduct of the parties.

Executory Contract

An executory contract is a contract that has not yet been fully performed or completed by one or more parties.

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