In re Estate of Rider
Supreme Court of South Carolina
756 S.E.2d 136 (2014)
Charles Rider had an investment account with Wachovia Bank, N.A. (Wachovia). Rider had terminal cancer. As a result, on June 17, 2005, Rider authorized Wachovia to transfer $2 million in assets from his account to a new account in the name of his wife, Carolyn (defendant). On June 21 and July 8, Wachovia transferred portions of the assets to Rider’s wife’s new account. Rider passed away on July 8. Wachovia was informed of Rider’s death that day. On July 11, the next business day, and October 20, Wachovia transferred the remainder of the $2 million in assets to Rider’s wife’s account. The personal representative of Rider’s estate (plaintiff) brought suit, seeking a declaratory judgment on whether the transfers made after Rider’s death were part of Rider’s estate. Rider’s wife argued that the Uniform Commercial Code (UCC) applied to the transfers. Rider’s daughters from a previous marriage (the McClures) (plaintiffs) argued that agency law applied, and that an agent may not act for a principal after obtaining actual knowledge of the principal’s death. The probate court ruled that the UCC applied and that the transfers made prior to and on the next business day after Rider’s death were valid, but that the fourth transfer was invalid and thus those assets were part of Rider’s estate. The circuit court affirmed. The court of appeals reversed, holding that the third and fourth transfers were invalid and those assets were part of Rider’s estate. The Supreme Court of South Carolina granted a petition for writ of certiorari.
Rule of Law
Holding and Reasoning (Beatty, J.)
What to do next…
Unlock this case brief with a free (no-commitment) trial membership of Quimbee.
You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 97,000 law students since 2011. Some law schools—such as Yale, Vanderbilt, Berkeley, and the University of Illinois—even subscribe directly to Quimbee for all their law students. Read our student testimonials.
Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.
Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students. Read more about Quimbee.
Here's why 174,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 14,000 briefs, keyed to 188 casebooks. Top-notch customer support.
- The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
- Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
- Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.