Opinion ID: 2183784
Heading Depth: 1
Heading Rank: 2

Heading: Proceeds From Bonds

Text: Following their separation, appellee with the consent of appellant, cashed $3858 worth of United States Government Series E bonds and gave $2,000 of the proceeds to their daughter for the purpose of defraying the cost of her wedding. Appellee contends that the remaining $1858 was spent for the mutual benefit of both spouses. We are unable to discover any facts in the record which would substantiate this contention. Appellee was in fact unable to explain what had been done with this portion of the proceeds. We therefore reverse the finding of the court below that this money was spent for the mutual benefit of the spouses and remand with directions that the court below enter judgment for appellant in the sum of $929  one half of the balance of the proceeds from these bonds. Appellee cashed another $7200 worth of United States Government Series E bonds following the separation and gave the proceeds to the son of the parties for the purpose among others of building a home. Appellant contends that her lack of knowledge of and failure to consent to this gift rendered it solely on behalf of appellee and therefore not for their mutual benefit. The absence of appellant's consent and her lack of knowledge alone are insufficient to compel this result. The record discloses that the amount of $7200 approximates the sum given to the daughter for her college education and wedding. This, coupled with the fact that the recipient of this gift was the son of the spouses and that there was no apparent antagonism between appellant and her son constituted a sufficient basis for the finding of the court below that the $7200 was given for the mutual benefit of the spouses. The consequent denial of recovery was therefore proper. [2]