Whether the inter vivos gifts of the stock valid in this case. Case summary: Person D, their two brothers and family manage and operate the whole stock of businesses which is owned by D. Person D has three children among whom R is looking after the business which is owned by the family. By seeing R’s involvement in the business activities, D transferred certain properties and stocks to R’s name which are around half of the whole stock. But the certificates of R were put safely in the office along with other stock certificates and documents of the business. When D died, the estate was equally divided between the three children and it ignored the reference for previous gifts which were given by D to R at the time the estate was distributed. The other two children (DA and B) brought an action to contest the validity of the stock transfers.

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Chapter 47, Problem 25CP

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To determine: Whether the inter vivos gifts of the stock valid in this case.

Case summary: Person D, their two brothers and family manage and operate the whole stock of businesses which is owned by D. Person D has three children among whom R is looking after the business which is owned by the family. By seeing R’s involvement in the business activities, D transferred certain properties and stocks to R’s name which are around half of the whole stock. But the certificates of R were put safely in the office along with other stock certificates and documents of the business. When D died, the estate was equally divided between the three children and it ignored the reference for previous gifts which were given by D to R at the time the estate was distributed. The other two children (DA and B) brought an action to contest the validity of the stock transfers.

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