Issue will be whether donor can revoke the gift.
To determine whether the gift is final, must distinguish between inter vivos and causa mortis gifts.
Inter vivos gifts.
To be irrevocable,
--Donor must have donative intent (intent to part with title, not just possession). Will normally be proven by statements at time of gift, and by circumstantial context.
--Must be a valid acceptance by the donee (silence usually enough; affirmative rejection usually needed to overcome).
--Must be delivery (transfer of possession) (item itself vs. emblem of item
Special situations re delivery
- --First Party Checks. Delivery is not complete until the check is cashed.
- --Third Party Checks. Delivery occurs when the physical check is turned over.
- --Stock Certificates. Gift complete when certificates turned over. Doesn’t matter than transaction has not been recorded on corporate books.
- --Agents. Donor handing off to donor’s agent is not delivery, but receipt by donee’s agent is delivery.
- Causa mortis gifts. To be irrevocable,
- --Must be imminent risk of death to donor that is objectively likely to occur.
- --Not valid gift if donee dies first.