Money Banking And Finance

Cover Money Banking And Finance
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All gifts, of course, are made during life, but when a donor is prompted by the belief that his death is impending, it is a donatio mortis causa, and if he dies his gift becomes effective. The same elements are present in both kinds of gift. " There must be a purpose to give ; this purpose must be expressed in words or signs ; and it must be executed by the actual delivery of the thing given to the donee or some one for his use. In every valid gift a present title must rest in the donee, irrevo...cable in the ordinary case of a gift ititer vivos, revocable only upon the recovery of the donor in gifts mortis causay^ 1 Palmer v. Providence Savings Institution, 14 R. L 68.
2 Walsh's Appeal, 122 Pa. 187.
LAW RELATING TO THE PAYMENT OF DEPOSITS 25 1 b. ]'alid Gifts. What, then, is needful to constitute a gift of a savings-bank deposit ? A delivery of the pass book, with the intention to give it, followed by the donee's acceptance. This is the law in most states, but not in Pennsylvania. There, possession affords no presumption of ownership ; " something more is necessary than the manual delivery of the book or paper in order to make a valid gift.


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