Ibey v. Ibey

The ruling that the gifts were not perfected and therefore ineffective was erroneous. The three bonds purchased and made payable on death to certain individuals were contracts with the United States for the benefit of third parties and as such entirely valid. Harvey v. Rackliffe, 141 Me. 169; Reynolds v. Chase, 87 N. H. 227, 230. The gifts were made through contracts duly executed, and there was no requirement that delivery be made to the donees personally in order to complete their rights in accordance with the terms of the contracts. Whether these bonds were acquired with funds used…