Packer v. Clemson

Citations

• 269 Pa. 1
• 112 A. 107
• 1920 Pa. LEXIS 743

Syllabus

<p>Gift — Gift inter vivos — Delivery—Father and son — Certificate of stock — Retention of dividends — Evidence.</p> <p>1. Where the father of a minor deposits in the safe deposit box of the minor’s grandfather, an envelope containing a certificate of stock endorsed in blank and witnessed, and the envelope is endorsed with a statement that it is the property of the son, naming him, and the father says to the grandfather at the time, this is for the boy, naming him, and the stock remains in the box inaccessible to the father until the latter’s death, the gift is a valid gift to the son of the stock in question.</p> <p>2. It is immaterial, in such case,, that the stock had not been transferred on the books of the corporation which issued it, or that the father collected and retained the dividends thereon until his death.</p>