quiz 10

Question 1

1. Alphonse gives his house to Boudreaux on the condition that Boudreaux pay off a federal tax lien owed by Alphonse and that has been levied against the property. The FMV of the house is $900,000. The value of the outstanding tax lien is $100,000.
   The transaction is subject to the law of _______.

Answer 1

a. Donations

Question 2

2. Alphonse gives his house to Boudreaux on the condition that Boudreaux pay off a federal tax lien owed by Alphonse and that has been levied against the property. The FMV of the house is $900,000. The value of the outstanding tax lien is $800,000.
   The transaction is subject to the law of _______.

Answer 2

Obligations

Question 3

3. In year 1, Donor executes an Act of Donation purporting to donate the following property to Donee:
   (a) The sum of $100,000; and
   (b) Whatever property that I inherit from my mother when she dies.
   Donor’s mother died in Year 2 and Donor inherited $200,000 from his mother. How much money is Donee entitled to receive from Donor on account of the donation (assuming the donation meets all the requisite form requirements)?

Answer 3

100,000

Question 4

4. John gave his husband Kyle an expensive watch as a sign of his affection and love. A few days later, John walked in on Kyle having sex with someone else—while wearing the watch John had given him.
   John wants to revoke the donation of the watch for ingratitude. John must bring his action to revoke for ingratitude within _____ from the day he discovered Kyle’s affair.

Answer 4

1 year

Question 5

5. In determining whether an action sufficiently ungrateful to give rise to a cause of action for revocation of a donation on the basis of ingratitude, the court usually considers whether:

Answer 5

a. The action is naturally offensive to the donor.

Question 6

6. John gave his husband Kyle an expensive watch as a sign of his affection and love. A few days later, John walked in on Kyle having sex with someone else—while wearing the watch John had given him. John was so shocked he had a heart attack and died a few days later.
   John’s children want to revoke the donation of the watch for ingratitude. Which of the following is correct?

Answer 6

b. The children can bring the action on John’s behalf, their action prescribes one year from the date John discovered the affair.

Question 7

7. John gave his husband Kyle an expensive watch as a sign of his affection and love. A few days later, John walked in on Kyle having sex with someone else—while wearing the watch John had given him. John successfully brings a suit to revoke the watch on the basis of ingratitude. Kyle has since sold the watch to a third party good faith purchaser. The watch was worth $5,000 when John gave it to Kyle. It was worth $6,000 on the date John discovered the affair. It was worth $7,000 on the date John filed his action to revoke. It was worth $8,000 on the date the court issued judgment in John’s favor. What is John entitled to receive from Kyle?

Answer 7

7,000

Question 8

8. An action to dissolve a donation for failure to fulfill the conditions or perform the charges imposed on the donee prescribes in ___ year(s), commencing the day the donee fails to perform the charges or fulfill his obligation or ceases to do so.

Answer 8

5