INFORMAL GIFTS OF CHOSES IN ACTION
Keywords:Choses in Action, Contract Law, Gifts
AbstractTo what extent are informal gifts of choses in action binding on the donor? To what extent is a voluntary equitable assignment of a chose in action enforceable against the assignor? It is well-established that declarations of trust, by which the owner of a chose in action constitutes him or her self trustee for another, need neither consideration nor any special form for their validity. This leaves two classes to consider: the gift of a chose in action to a donee without consideration and without complying with all the statutory formalities, and the placing a chose of action with another person in trust for a third. Does equity assist a volunteer? Cheshire and Fifoot thought it did. But they were prophets, not recorders of the law. One can only hope, writes L.A. Sheridan, that their prophecies come true.
Download data is not yet available.