Jim wants to give Klio a diamond necklace that Jim has in his safe deposit box at First National Bank. The bank is closed for a holiday. Jim gives Klio a key to the box and tells her to go to the bank after the holiday and take the necklace. Klio does this. The next day, Jim dies unexpectedly. Jim's heirs want the necklace. What type of gift was this? Can Klio keep it?
What will be an ideal response?
Yes. The necklace was a gift inter vivos¾a gift made during the donor's lifetime. (If the donor had presented the gift in expectation of his imminent death, it would have been a gift causa mortis. The donor died, but the death was unexpected.) The gift met all of the requirements for a valid gift: donative intent on the part of the donor, delivery, and acceptance by the donee. The necklace could not be physically delivered, because the bank was closed. Delivery of the key to the box was constructive delivery of the necklace. The recipient of the gift is thus entitled to keep it.
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What will be an ideal response?
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