Court Opinion

ID: 9706752
Source: CourtListenerOpinion
Date Created: 2023-08-26 01:50:54.758334+00
Date Added: 2024-06-11T18:22:24.765973
License: Public Domain

Concurring Opinion by
Mr. Justice Boberts:
Although I agree with the majority’s conclusion that no gift has been demonstrated, I believe that it has without any avowed justification modified the holding of Donsavage Estate, supra. The majority tells us that an endorsement in blank “is, per se, neither controlling nor indicative of the existence of a donative' intent . . . .” (Emphasis supplied.) I agree that an endorsement in blank is not controlling but it certainly is indicative.1
What we in fact said in Donsavage (supra at 595, 2l8 A. 2d at 118) was: “The fact that decedent had endorsed the certificates in blank per se is neither controlling nor indicative of the existence of an intent that such endorsement operate as a gift . . . .” (Emphasis in original.) While an endorsement in blank does not indicate that the endorsement itself shall operate as a *545gift, I firmly believe that endorsement is certainly indicative of donative intent. The next sentence in Don-savage states that endorsement of certificates in blank plus possession by the alleged donee would raise a presumption of ownership in the donee. Clearly, then, the endorsement has evidentiary value as to donative intent yet under the majority language evidence that the certificates were endorsed would be inadmissible for this is, according to the majority, not even indicative of donative intent. Where a putative donor does nothing more than endorse some of his stock certificates, of course that endorsement does not operate as a gift. But where the certificates are endorsed and then given to another, certainly that endorsement is at least indicative of the alleged donor’s intent.2
Mr. Justice Eagkn joins in this concurring opinion.

 Obviously, the issue here turns on what, if anything, was contained in the newspaper. An offer of proof was made that brother George would testify that the claimed certificates were contained in the newspaper. However, he was not competent to testify under the Dead Man’s Act until a prima facie gift was proved. Donsavage Estate, supra at 601, 218 A. 2d at 121. I agree with the court below that, given the fact that George had access to decedent’s home both before and after death, testimony that a newspaper was handed to appellant does not show a prima facie gift. We are thus left with no admissible testimony as to the contents of the newspaper.

 In fact, I believe tbat evidence showing delivery of unendorsed certificates could, under certain circumstances, constitute a valid gift. Section 3-201(32) of the Uniform Commercial Code defines the term purchase to include a taking by gift; §1-201(33) defines a purchaser as any person who takes by purchase. Section 8-307 then provides: “Where a security in registered form has been delivered to a purchaser without a necessary indorsement . . . [as] against the transferor the transfer is complete upon delivery and the purchaser has a specifically enforceable right to have any necessary indorsement supplied.” Simply, if A gives unendorsed stock to B and later refuses to sign the certificates so that proper transfer can be made on the corporate books, B can compel A to endorse the certificates. The Code obviously contemplates that unendorsed certificates can be the subject of a valid, enforceable gift.