In: Accounting
Please assist if familiar with the given scenario, thanks!
Famous artists Georgia O'Keefe and Alfred Stieglitz donated 101 artworks to Fisk University in the 1940s. But the gift had two conditions: The pieces could not be sold and they had to be displayed as one collection. Over 50 years later, Fisk could not pay to maintain the collection and decided to sell two of the pieces. Proceeds of the sale would go to restore its endowment and build a new science building. The Georgia O'Keefe Foundation sued to stop the sale, arguing that the artists would have opposed it.
Should the law permit this sale?
Do you agree with Fisk's actions?
What duties do gift recipients have to donors?
What would Kant and Mill say?
Famous artists named GOK and AS
given one zero one artworks to FS university in 1940's. the
essential condition they place forth was, FS University isn't
alleged to sell the artworks, and these one zero one artworks ought
to be displayed as a set. once fifty years FS University set to
sell 2 of the design items.
Gift generally is a person's can to transfer their own property to
a different with none issues. In general, a present has no thought,
and may be a unidirectional dealing. Here, renowned artists GOK,
associated AS have given the item keeping an possession with
themselves, i.e. limiting it with conditions. this kind of
donations or gifts is thought as revocable gifts. So, law mustn't
allow this sale.
According to philosophers KN and cubic centimetre, the duties of
gift recipient towards donors ar kind of like that of a client. The
duties or responsibilities ar as follows:
ought to establish whether or not the donor is meant to transfer
title on property. ought to follow the instruction of the donor, as
donating the property doesn't mean that if may be a gift. settle
for a present deed only if assured to follow
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