In Re Estate of Hutchison

The funds which were employed in the purchase of the 25 shares of stock having been jointly owned by James and Letitia Hutchison, which funds were subject to withdrawal by either, the act of purchase and the direction to the Cleveland Electric Illuminating Company to issue the stock in their joint names as tenants in common of undivided equal interests, with right of survivor-ship, became a contract between the parties, having the essential elements of lawful subject-matter and valid consideration. It is quite certain that ¿he parties intended to contract, and, inasmuch as the transaction was…