McLeod v. Sandy Island Corp.

(dissenting) :

Being convinced this transfer was a “sale” as opposed to a “gift”, I respectfully dissent.

This matter was before the Court in McLeod v. Sandy Island Corporation, et al., 260 S. C. 209, 195 S. E. (2d) 178 (1973). In that decision this Court held that the ninety-four (94) shares were, in fact, transferred the child, however, that the corporation, under the language of the stock limitation, had the right to show what effect, if any, the knowledge by the wife of the restriction had on the daughter’s right of ownership.

Thomas M. McLeod and his wife Marlene B. McLeod were divorced in…