McCord's Estate

I dissent because I believe the reasoning of the majority opinion is wrong fundamentally.

Strictly speaking, power over a thing or in relation thereto is not ownership of that thing. It is true that where the power is general and unlimited, it may be, and is, treated as tantamount to ownership; but in the present case the donee is limited to an appointment by will: this is neither more nor less *131than a right in donee to designate who may succeed to donor’s title to donor’s property, provided that such designation is contained in donee’s will, either in express terms or by legal implication or…