Green’s birthday is coming up and Blue wants to do something nice for them since Green has been such a complimentary friend. Blue gathers the supplies to wrap a gift, the giftwrap, the tissue paper, some ribbon and a bow. While gently wrapping a homemade jar of mustard to place into the box, Blue accidently knocks their favorite necklace into the box. Blue does not notice and places the tissue paper wrapped jar into the box and finishes wrapping the gift. Later, Blue attends the party at Green's house and gives Green the gift box. Green loves gifts, and immediately tears into it. Green is so pleased with the mustard but then notices the sparkling necklace at the bottom of the box. “Oh Blue! You shouldn’t have given me this, but I’ll wear it with pride!” Blue is shock when they see they necklace, having no idea it was in the gift box. Who legally owns the necklace now? Why? What elements of a gift are present here?
Green’s birthday is coming up and Blue wants to do something nice for them since Green has been such a complimentary friend. Blue gathers the supplies to wrap a gift, the giftwrap, the tissue paper, some ribbon and a bow. While gently wrapping a homemade jar of mustard to place into the box, Blue accidently knocks their favorite necklace into the box. Blue does not notice and places the tissue paper wrapped jar into the box and finishes wrapping the gift. Later, Blue attends the party at Green's house and gives Green the gift box. Green loves gifts, and immediately tears into it. Green is so pleased with the mustard but then notices the sparkling necklace at the bottom of the box. “Oh Blue! You shouldn’t have given me this, but I’ll wear it with pride!” Blue is shock when they see they necklace, having no idea it was in the gift box. Who legally owns the necklace now? Why? What elements of a gift are present here?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Green’s birthday is coming up and Blue wants to do something nice for them since Green has been such a complimentary friend. Blue gathers the supplies to wrap a gift, the giftwrap, the tissue paper, some ribbon and a bow. While gently wrapping a homemade jar of mustard to place into the box, Blue accidently knocks their favorite necklace into the box. Blue does not notice and places the tissue paper wrapped jar into the box and finishes wrapping the gift. Later, Blue attends the party at Green's house and gives Green the gift box. Green loves gifts, and immediately tears into it. Green is so pleased with the mustard but then notices the sparkling necklace at the bottom of the box. “Oh Blue! You shouldn’t have given me this, but I’ll wear it with pride!” Blue is shock when they see they necklace, having no idea it was in the gift box. Who legally owns the necklace now? Why? What elements of a gift are present here?
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