Gift or Gift Causa Mortis

Majority shareholder at a shareholder meeting resigned his presidency, stated that he was taking an extended vacation, and stated that, if he died, he relinquished all of his shares to the officers and directors of the company.  Court found that no gift took place, because intent, delivery and acceptance never occurred, and that the gift was not causa mortis, because decedent did not believe he was about to die.  North Branch Transfer Inc. etal v. Bower, 4 Fid. Rep. 3d 229 (C.P. Lycoming 2014) (Verdict and Order by Gray, J.)

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