Practice point: The donor must intend to make an irrevocable present transfer of ownership, and there must be delivery and acceptance.
Student note: If the intention is to make a testamentary disposition, the gift is invalid unless made by will.
Case: Ross v. Ross Metals Corp., NY Slip Op 06224 (2d Dept. 2011).
Here is the decision.
Listen here.
Tomorrow’s issue: Venue.
