Here is the case: Below are two questions the first one answered in one to two s
ID: 424778 • Letter: H
Question
Here is the case: Below are two questions the first one answered in one to two sentences and the other questions relate to the first question and to answer in 3-4 sentences.
34-2 Gifts. Jaspel has a severe heart attack and is taken to the hospital. He is aware that he is not expected to live. Because he is a bachelor with no close relatives nearby. Jaspel gives his car keys to his close friend Friedrich, telling Friedrich that he is expected to die and that the car is Friedrich's. Jaspel survives the heart attack, but two months later he dies from pneumonia. Sam, Japel's uncle and the executor of his estate, wants Friedrich to return the car. Friedrich refuses, claiming that the car was a gift from Jaspel. ( See Acquiring Ownership of Personal Property)
1. What practical legal suggestions did you learn from this case that would be of use to a business person or to an individual and their personal life? (Answer in one or two sentences.) (NOTE: An example of a practical legal suggestion is as follows: Make sure that all written contracts that you sign include all of the essential terms and all of the terms and conditions that you have verbally agreed to.) Here is what I came up: When a gift is given in an anticipation of imminent death, it is called gift causa montis and must comply with additional rules which states that the gift is not absolute until the donor dies from the contemplated event and the gift is automatically revoked if the donor survives the contemplated event.
2. How can this practical legal suggestion be applied in your own personal life or in the business of life of some employer that you worked for? (Answer in 3 to 4 sentences.) Now with the answer from question one we need to answer question two with 3 to 4 sentences
Explanation / Answer
Ans. A gift is a voluntary transfer of property by one to another without any consideration or compensation. To be valid, a gift must be executed or actually made. A gratuitous promise to make a gift in the future is not binding.
A gift causa mortis is one given in contemplation of death. For the gift to be valid, the following elements must exist: 1) Present Mental Capacity : The donor must have the same present mental capacity to make the gift as is required for a gift inter vivos.
2) Gift Must Be Personal Property : Real property cannot be conveyed as a gift causa mortis.
3) Delivery and Acceptance : The delivery and acceptance requirements that are essential to the validity of a gift inter vivos are also required for gifts causa mortis.
4) Anticipation of Death : To validate a gift causa mortis, older cases held that the donor had to die as anticipated. If she died from some other cause, some early decisions indicated that the gift was revoked.