Search results
Results from the WOW.Com Content Network
A gift, in the law of property, is the voluntary and immediate transfer of property from one person (the donor or grantor) to another (the donee or grantee) without consideration. There are several type of gifts in property law, most notably inter vivos gifts which are made in the donor's lifetime and causa mortis (deathbed) gifts which are ...
Commissioner v. Duberstein, 363 U.S. 278 (1960), was a United States Supreme Court case from 1960 dealing with the exclusion of "the value of property acquired by gift" from the gross income of an income taxpayer. [1] It is notable (and thus appears frequently in law school casebooks) for the following holdings:
The Foreign Emoluments Clause is a provision in Article I, Section 9, Clause 8 of the United States Constitution, [1] that prohibits the federal government from granting titles of nobility, and restricts members of the federal government from receiving gifts, emoluments, offices or titles from foreign states and monarchies without the consent of the United States Congress.
The rule against perpetuities is a legal rule in common law that prevents people from using legal instruments (usually a deed or a will) to exert control over the ownership of private property for a time long beyond the lives of people living at the time the instrument was written. Specifically, the rule forbids a person from creating future ...
The case establishes that a gift of chattels cannot be perfected by showing them to a donee and stating words of gift. In order to establish a gift there are three requirements. Namely, perfecting a gift requires 1) Intention 2) Delivery and 3) Acceptance. In this case Mr Cole had, by words, shown intention to make a gift to Mrs Cole.
Evidence. In a legal dispute, one party has the burden of proof to show that they are correct, while the other party has no such burden and is presumed to be correct. The burden of proof requires a party to produce evidence to establish the truth of facts needed to satisfy all the required legal elements of the dispute.
The presumption of advancement is a legal presumption which arises in various common law jurisdictions in relation to the transfers of money or other property. Broadly, the presumption states that where a husband transfers property to his wife, or a father to his child or someone to whom he has assumed parental responsibility, then in the absence of other evidence the court will presume that ...
The gift would instead revert to the residuary estate or be granted under the law of intestate succession. If the deceased beneficiary was intended to inherit part or all of the residuary estate, then that portion of the estate would pass by intestate succession , as though the testator had left no will.