Burns v. Beeny

TOWNSEND, Commissioner.

On the merits this case presents two legal issues:(1) Is the obligation evidenced by a negotiable promissory note extinguished by an oral declaration of gift made by the holder to the maker?(2) Where a bilateral contract is entered into by A and B with provision for periodic advance payments by B, is the contract automatically terminated by B’s failure to make such a promised advance payment, when the contract provides that failure by B to make any of the payments specified “on or before due dates shall cause this Contract to be terminated immediately” ?

The Evidence(1)…