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A Husband and Wife Are from a Middle-Class Family That

question 23

Essay

A husband and wife are from a middle-class family that has just won a $125 million lottery. Based on their newly acquired wealth,what precautions would you suggest the couple take immediately and within the next few days?


Definitions:

Debt

An amount of money borrowed by one party from another, under the condition that it is to be paid back at a later date, often with interest.

Contract Law

The legal framework that oversees the creation, execution, and understanding of contracts between individuals or entities.

Business Person

An individual who operates a business or enterprise, taking on greater than normal financial risks in order to do so.

Internet Transactions

The buying and selling of goods and services or the transmitting of funds or data, over an electronic network, primarily the internet.

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