Acquisition by Gifts

Question 1

What are the requirements for a legitimate gift?

Answer 1

Intent (question of fact), delivery (question of law), acceptance

Question 2

What are the three kinds of delivery?

Answer 2

Actual: Transfer of hands of the object (if capable, must manually deliver)

Symbolic: Handing over something symbolic of object (e.g., key to a house) Only certain things can be transferred symbolically (e.g., intangibles, like stocks)

Constructive: Handing over key or object that will access object

Question 3

What state does not allow for symbolic delivery?

Answer 3

North Carolina

Question 4

What are the four kinds of gifts?

Answer 4

Causa mortis, intra vivos, conditional gifts, testamentary

Question 5

What is a causa mortis gifts?

Answer 5

A gift when impending death is anticipated; if death does not occur, gift is revocable

Question 6

Can you transfer a present interest of future possession intra vivos?

Answer 6

Yes

Question 7

What are the Statute of Wills requirements?

Answer 7

A valid will
Signed by testator (deceased)
Witnessed by two individuals

Question 8

If a donor gives an object to a 3rd party for delivery, can they rescind the gift before delivery to intended recipient?

Answer 8

If intermediary is an agent of the done, no
If intermediary is an agent of neither, no
If intermediary is an agent of the donor, yes