Discuss the uniform gifts to minors act

Assignment Help Business Law and Ethics
Reference no: EM131621414

Theodore Alexander Buder's father made substantial gifts to his minor grandchildren. Theodore Buder and his wife divorced during this period. The cash gifts, typically in the form of checks made directly payable to the children, were given to Buder with the understanding that he would safeguard the money and invest it on behalf of the children. Buder invested various amounts of the children's money in "blue chip" stocks traded over the New York and American stock exchanges. Buder also invested substantial sums of the children's money in speculative penny stocks. The stocks were purchased in Buder's name as custodian for the children, as required by the Uniform Gifts to Minors Act (UGMA). At one point, almost half of the children's money was invested in penny stocks. All the penny stocks except one suffered substantial losses. Buder's ex-wife, Sartore, sued him, alleging that he had breached his fiduciary duty owed to the children under the UGMA. She sought to recover the funds lost by Buder's investment of the children's funds in penny stocks. Who wins?

Reference no: EM131621414

Questions Cloud

Formation of settled communities : The Redman-Childe list of essential characteristics (from 12 July lecture) assumes the formation of settled communities as an essential component.
Examine the diversity in your company : How will you recruit and interview high skilled workers for the hard to fill technical positions? Examine the diversity in your company.
Begin with rather broad question : Let's begin with this rather broad question, how did the war start in Europe? You can answer this by considering either political or military issues.
Explain the name and description of the selected company : Explain the name and description of the selected company. Describe the methods you would use for collecting a suitable sample of either qualitative data.
Discuss the uniform gifts to minors act : Theodore Alexander Buder's father made substantial gifts to his minor grandchildren
Which business organizational form would be best given : Develop a 350- to 700-word summary with the following information: Which business organizational form would be best given the above circumstances, and why?
Define what would most likely be the result : Fred now wonders if he is entitled to the engagement ring back. If Fred sued, what would most likely be the result
Prepare the journal entries to record the restricted stock : Prepare the journal entries to record the restricted stock on January 1, 2017 (the date of grant), and December 31, 2018
Comparative and a transnational context : How has the Atlantic World History provided frameworks that have enhanced the study of the past in a comparative and a transnational context and also influenced

Reviews

Write a Review

Business Law and Ethics Questions & Answers

  How is standard deviation measured

How can you minimize bias through your research design? What are some examples of how this can be applied to criminal justice research?

  Create a plan for improving the property in terms of safety

Create a plan of recommendations for improving the property in terms of safety, financial protection, and overall security. What benefits do you think would result from your proposed changes

  Relationship between ethics and professional responsibility

A brief explanation of the relationship between ethics and professional responsibility. Then, explain whether you agree or disagree with the way that Claude Ferguson chose to balance his objective, subjective, and ethical responsibilities as a pub..

  Throughout this week you studied the topic of eminent

throughout this week you studied the topic of eminent domain which is the power to take private property for public use

  According to a statement from the united nations asserts

identify the public policy that you have chosen to write aboutthe name of the public policy is convention on

  Explain highest type of ownership estate in real property

What is the highest type of ownership estate in real property? If a contract ends in a dispute, and the parties want to have the matter resolved without going to court, which is the most common method for them to pursue

  Should the use of camera phones be banned

Should insurance companies in your state be required to pay for breast reconstruction, birth control pills, or Viagra? Should the use of camera phones be banned in local gymnasiums or other locations

  Gaap is an abbreviation that stands for generally accepted

GAAP is an abbreviation that stands for generally accepted accounting principles.

  With respect to your classmates initial post how do the

select one of the following activities from chapter 10 of crime prevention for your initial post.a. activity crime

  The supreme court has repeatedly asserted that a defendant

the supreme court has repeatedly asserted that a defendant is not entitled to a jury composed in whole or in part of

  Identify specific examples in the language of the text

Identify specific examples in the language of the text to support your position. Examine some of the arguments used by the framers of the Constitution while debating the language of the document

  This charge carries a range of two to eight years you can

for this discussion question i want you to assume the role of a judge who is sentencing a defendant for the crime of

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd