If you win a prize such as a car, do they legally have to provide the cash value of the prize?
I had heard somewhere in my life that win a prize if being offered through whatever type of contest, that the cash value had to be made available if the winner did not really want the prize itself. Is this true?
For example, if someone won a car and actually could not afford the taxes, can't they just opt for the cash minus taxes? If is different per state, I am inquiring about Virginia.
there is no legal requirement for them to do so...
most commercial enterprises have to buy their prize so are more then willing to do so...
charity organizations on the other hand raffle off GIFTS so usually don't provide such options
