Question: Thomas A Carella filed for Chapter 7 bankruptcy At the
Thomas A. Carella filed for Chapter 7 bankruptcy. At the time, HSBC Bank USA held the sum of $16,540.94 on deposit in a joint bank account in the names of Carella and his father, Thomas J. Carella. The son sought to protect the money in the bank account, arguing that it was his father's account. The father had set up the joint account after finding out he needed to undergo heart bypass surgery. The father argues that he set up the joint account for convenience so that his son would have access to the money should the father pass away. The father survived the surgery and continued to manage the joint account. Only the father deposited or withdrew money from the account at any time. The son's bankruptcy trustee argued that the account was a gift causa mortis and thus is available as part of the bankruptcy. Did the joint account constitute a gift causa mortis? What are the necessary elements for establishing the joint account as a gift causa mortis?
Relevant QuestionsDefendant Tubbs met her fiancé, Church, over the Internet. After several years of correspondence and visits, they became engaged in February 2000. Church and Tubbs planned to be married in Las Vegas in July 2000. Two months ...Sarah and Eddie Hogan wanted to sell 2.5 acres of land through their real estate agent, Darita Richard- son. On December 10, 2001, Warren Kent offered to purchase the land for $52,500. An "Agreement to Buy or Sell" was ...Five employees of American Electric Power Service Cor p. (AEP) invented a new product. "In consideration of the sum of One Dollar (1.00), and of other good and valuable consideration paid to the under- signed Assignor," each ...How does the concept of the age of majority in Great Britain diff er from that in the United States? The Lower Yukon School District provides public education in the region that includes the village of Scammon Bay in Alaska. Askinuk Corporation is the Scammon Bay native village corporation created by the Alaska Native ...
Post your question