Steeling v. Wilkinson

Citations

• 83 Va. 791

Syllabus

<p>1. Gifts Inter Vivos&emdash;Donor s control.&emdash;If the choses in action are so delivered as to vest in donee an equitable title in the fund they represent, and to divest donor of all present control over it absolutely and irrevocably, they are valid. But otherwise, if the delivery does not vest in donee present right.</p> <p>2. Idem&emdash;Invalid gifts&emdash; Valid assignments&emdash; Case at bar.&emdash;Choses in action were deposited to be, «L case of depositor's death, equally divided between his wife and children. Later, depositor authorized depository, in case of his death, to dispose of enough choses to secure himself against loss as depositor’s endorser.</p> <p>Held :</p> <p>The gift to wife and children is invalid ; but the choses are liable to the debts of depository for which they had been assigned.</p> <p>3. Personal representatives&emdash;Laches&emdash;Liability&emdash;foint bond&emdash;Case at bar.&emdash;I, as guardian, held the joint bond of himself, H. Y. & L. H. & L. were insolvent. I. having died before the bond was collected, C., his administrator, by his laches, failed to collect and lost the half which Y. was bound for.</p> <p>Held :</p> <p>C. is liable to make good Y.’s indebtedness.</p>