William H. Ross & Co. v. Walker

Citations

• 44 Fla. 704

Syllabus

<p>1. In order to constitute a valid gift the transaction, must be consummated by delivery of the thing given.</p> <p>:2. Where the Subject-matter of an alleged gift consists of a debt due the donor by the donee evidenced by due bills, and no receipt for the debt is actually given, and no credit entered, and where the evidence of the debt is not can-celled. destroyed, delivered to the donee or otherwise placed beyond the control of the donor, no valid gift is effected. Until consummated in the manner stated the transaction amounts to no more than a promise to give, which being without valuable consideration will not be enforced by the courts.</p> <p>;-3. Where due bills are given for money loaned, specifying no time of payment, with no mention of interest therein, and from written correspondence between the parties at the time of the loans and the giving of the due bills, it appears that the parties did not regard the due bills as due immediately or as bearing interest until a demand for payment of the sums leaned, interest should be computed upon such loans from the time of such demand for payment, and not from the date of the due bills</p>