판결 이유
Where a donor has done everything in their power to transfer legal title, equity will treat the gift as complete even before the legal formalities are finalised by a third party.
사실관계
Rose executed a share transfer form and delivered it to the company. The company registered the transfer later. The question was when the gift took effect for tax purposes.
판결 요약
The Court of Appeal held the gift was complete in equity when Rose delivered the executed transfer form, as he had done everything within his power.
주요 인용문
"If a man executes a transfer of shares and delivers it to the transferee, he has done everything in his power to divest himself of his interest."
— Evershed MR
후속 처리
Good law
Applied in Pennington v Waine and Mascall v Mascall.