A Treatise On the Law of Personal Property
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& Sm. 517 ; Champney v. Blanchard, 39 N. T. 111.
164 TITLE TO PEESONAL PEOPEETY.
than corporeal property; and yet in some States it appears that the delivery of a box and key, with intent to donate the con- tents, carries not only such promissory notes or coupon-bonds payable to bearer as the box may hold, but even a certificate of stock which happens to be there, without any other special delivery.! This is a dangerous doctrine to push far. But, on the other hand, pursuing our analogies, we fi...nd that the gift of a chose in action, or incorporeal chattel, cannot take effect if the instrument be put into an envelope, with direc- tions for delivery indorsed upon it, and then retained by the donor under his control and dominion until his death.^ So if one assigns a life-insurance policy under seal, in consid- eration of love and affection, and yet keeps the assignment and policy under his control, pays the premiums, and leaves the delivery to those who come upon his papers after his death, there can be no valid gift.^ Such an assignment could not be enforced, being without valuable consideration ; nor will the seal import a consideration without delivery.* In short, the yielding up of dominion, the parting of control, are requisite in incorporeal as well as corporeal property ; and the attempt to create a trust in the nature of a gift by written directions for an executor or administrator to carry into effect, must fail, unless compliant with the statutes of wills.
What to read after A Treatise On the Law of Personal Property?
You can find similar books in the "Read Also" column, or choose other free books by James Schouler to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
& Sm. 517 ; Champney v. Blanchard, 39 N. T. 111.
164 TITLE TO PEESONAL PEOPEETY.
than corporeal property; and yet in some States it appears that the delivery of a box and key, with intent to donate the con- tents, carries not only such promissory notes or coupon-bonds payable to bearer as the box may hold, but even a certificate of stock which happens to be there, without any other special delivery.! This is a dangerous doctrine to push far. But, on the other hand, pursuing our analogies, we fi...nd that the gift of a chose in action, or incorporeal chattel, cannot take effect if the instrument be put into an envelope, with direc- tions for delivery indorsed upon it, and then retained by the donor under his control and dominion until his death.^ So if one assigns a life-insurance policy under seal, in consid- eration of love and affection, and yet keeps the assignment and policy under his control, pays the premiums, and leaves the delivery to those who come upon his papers after his death, there can be no valid gift.^ Such an assignment could not be enforced, being without valuable consideration ; nor will the seal import a consideration without delivery.* In short, the yielding up of dominion, the parting of control, are requisite in incorporeal as well as corporeal property ; and the attempt to create a trust in the nature of a gift by written directions for an executor or administrator to carry into effect, must fail, unless compliant with the statutes of wills.
What to read after A Treatise On the Law of Personal Property?
You can find similar books in the "Read Also" column, or choose other free books by James Schouler to read onlineMoreLess
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