Why Should a Donee Beneficiary Be Able to Sue for the Benefit

question 12

Essay

Why should a donee beneficiary be able to sue for the benefit that she was to receive,even though someone to whom a promise of a gift is made directly is not able to sue to enforce the promise of a gift?

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Definitions:

Foreign Exchange Risk

The risk that an entity’s financial position, financial performance, or cash flows will be affected by fluctuations in exchange rates.

Recognised Assets

Assets that have been formally acknowledged and recorded on the balance sheet due to their probable future economic benefits.

Unrecognised Firm Commitments

Obligations or agreements that a company has committed to, but are not yet recorded on the balance sheet because they do not meet the recognition criteria.

Hedge Effectiveness

A measure of the degree to which a hedge transaction reduces the risk of the underlying exposure it was intended to hedge.