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deping deping
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6 years ago
Gifts Inter Vivos. Thomas Stafford owned four promissory notes. Payments on the notes were deposited into a bank account in the names of Stafford and his daughter, June Zink, as joint tenants with right of survivorship. Stafford kept control of the notes and would not allow Zink to spend any of the proceeds. He also kept the interest on the account. On one note, Stafford indorsed Pay to the order of Thomas J. Stafford or June S. Zink, or the survivor. The payee on each of the other notes was Thomas J. Stafford and June S. Zink, or the survivor. When Stafford died, Zink took possession of the notes, claiming that she had been a joint tenant of the notes with her father. Stafford's son, also Thomas, filed a suit in a Virginia state court against Zink, claiming that the notes were partly his. Thomas argued that their father had not made a valid gift inter vivos of the notes to Zink. In whose favor will the court rule? Why?
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m7md9078m7md9078
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