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Irvin v. Jones
Arkansas Supreme Court
832 S.W.2d 827 (1992)
- Written by Sean Carroll, JD
Facts
Bernice Jones (defendant) purchased a $10,000 certificate of deposit (CD) for each of her grandnieces and grandnephews, including Kenny, Doug, and Mike Irvin (plaintiffs). Each CD was payable to Jones or the recipient with joint rights of survivorship. Jones kept physical possession of the CDs at all times. The Irvins were Jones’s grandnephews by marriage, but while the CDs were maturing, the Irvins’ mother and Jones’s nephew divorced. Jones cashed the CDs, collecting close to $15,000 for each. The Irvins sued Jones seeking to recover the value of the CDs. The trial court granted Jones summary judgment, finding that Jones never delivered the CDs to the Irvins. The Irvins appealed.
Rule of Law
Issue
Holding and Reasoning (Corbin, J.)
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