Four years ago, D, who then had a net worth of $100,000, guaranteed a bank loan for a friend, A, for $100,000. This year A
Four years ago, D, who then had a net worth of $100,000, guaranteed a bank loan for a friend, A, for $100,000. This year A defaulted on the loan, the bank obtained a judgment against D and the bank levied on D's assets. The levy yielded only $40,000. When, if at all, did D make a gift? And in what amount?
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Authors: Wallace, Simko, Ferris
4th Edition
1618531980, 9781618531988
