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Innes v. Potter
Minnesota Supreme Court
153 N.W. 604 (Minn. 1915)
Warren Potter owned 1370 shares of stock. After he had made a will, he indorsed to his daughter Marcia Potter (defendant) a certificate of 1000 shares of stock. He put the certificate in a sealed envelope with written instructions that it should be delivered to his daughter after his death, and gave the envelope to a business associate. After Warren died in 1914, the envelope was delivered to Marcia. Thereafter Innes, the administrator of Warren’s will (plaintiff), filed suit for his estate to regain possession of the stock certificate. The trial court found that Warren had made a valid gift of the stock to Marcia. Innes appealed.
Rule of Law
Holding and Reasoning (Hallam, J.)
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