On his wife’s birthday, Leopold Cohn wrote out a note saying “I give this day 500 shares of stock to my wife Sara as a birthday present.” He died 6 days later. Who owns the stock?
Was there a valid gift? Or does it pass in accordance with Leopold’s will?
The stock was located on that day in a safe deposit box of his company “A. Cohn & Co.
Is there donative intent i.e. intent to make a present gift today rather than a future gift at some later date?
Did Leopold deliver the gift to his wife?
He handed her a piece of paper describing the stock, but the stock itself was still in the safety deposit box in the bank.
Although actual delivery of the object of the gift is usually required, but sometimes symbolic delivery will suffice. P. 214-215
What does the Court hold? Do you agree with the court's reasoning?
