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Citation. 104 F. 328 (D. Mo. 1900)
Brief Fact Summary. A wife received a paper which stated her husband’s present intention to give her 500 shares of stock. The husband did not physically possess the certificates, and he passed away before physically transferring the certificates to his wife. Facts.
Synopsis of Rule of Law. Due to the conclusive establishment of an intention on the part of the decedent to give the shares to the executrix, and certain circumstances preventing the actual delivery of the certificates, the gift was valid.
On September 20, 1911, decedent Leopold Cohn gave to his wife, for her birthday, a paper which stated that he gave her 500 shares of American Sumatra Tobacco Company stock on that day. The decedent’s two daughters witnessed this event. At the time of this transfer, the actual stock certificates were held in a safe deposit box by a firm, which had been dissolved, consisting of the decedent, his brother, and his nephew. The stock certificates were held in the firm name, although the legal relations holding the firm together had been severed. The decedent owned 7,213 shares of the stock in the safe. The decedent passed away on September 26, 1911, prior to his receipt of the shares which were in the firm’s safe deposit box. Thus, delivery of the promised 500 shares to his wife, now executrix, was never made. Issue.
Was the note given to the executrix on her birthday sufficient to prove that a gift had been made during the decedent’s lifetime?