Moore v. Bowyer
| Decision Date | 30 April 1979 |
| Docket Number | No. 1-778A212,1-778A212 |
| Citation | 388 N.E.2d 611,180 Ind.App. 429 |
| Parties | Clarence R. MOORE, Defendant-Appellant, v. Maudie BOWYER and Thomas Bowyer, Personal Representatives of the Estate of Iva Kinnaman, Plaintiffs-Appellees. |
| Court | Indiana Appellate Court |
George A. Cottrell, Indianapolis, Walter R. Johnson, Fortville, for defendant-appellant.
Thomas E. Williams, Greenfield, for plaintiffs-appellees.
Defendant-appellant Clarence R. Moore (Moore) appeals the judgment of the Hancock Superior Court declaring certain certificates of deposit as assets of the estate of Iva Kinnaman, plaintiff-appellee.
We perceive Moore's allegation of error to be whether the donor's failure to read the terms of a signature card constitutes a sufficient ground for vitiating the incidents of survivorship expressly stated therein. Upon trial to the court, special findings of fact and conclusions of law were entered and judgment granted in favor of the estate. Such findings disclosed that Moore was one of two natural heirs of his mother, Iva Kinnaman, and that for several years he had handled her financial affairs. Due to physical infirmities, Moore possessed a power of attorney to write checks from Iva's checking accounts and performed most of her errands for her. When Iva received an inheritance of approximately $17,000, she directed Moore to deposit it for the payment of future debts. Moore decided that the monies should be deposited in a savings account in order to earn interest, and further decided that his name should be on the account so he could withdraw funds for his mother's benefit.
The trial court found that neither Moore 1 nor Iva requested the Savings & Loan Association for a joint account with rights of survivorship; however, as was customary with the Savings & Loan Association, a signature card expressing such an intent was given to Moore for his and Iva's signature. When Moore presented the card to Iva, she had the opportunity to read the terms thereof, but the trial court found as fact that Iva did not read the terms because she needed a magnifying glass (which she received as a Christmas present) to accomplish such a task. Monthly interest checks from the joint account were thereafter mailed to Iva wherein the signatures of Moore and Iva were required. In each instance, both endorsed the checks which were cashed and used for Iva's benefit. The evidence is uncontradicted that Iva was of sound mind throughout the above series of events. In its conclusions of law, the trial court declared that the terms of the signature card were clear and unambiguous and raised a rebuttable presumption that Iva intended the funds to be a gift to Moore. See Estate of Fanning, (1975) 263 Ind. 414, 333 N.E.2d 80. Nevertheless, the trial court declared such a presumption could not stand in light of Iva's mistake of fact, I. e., her failure to read the terms of the signature card.
In Fanning, our Supreme Court held that where a certificate of deposit creates a joint account with rights of survivorship in clear and unequivocal language, the donative intent of the donor is presumptively established. The thrust of the holding was that principles of contract law, rather than that of gifts, should be the governing substantive law due to the inherent contractual nature of such certificates. 2 As a third party contract, the donor could rescind during her lifetime; otherwise, the presumptive donative intent could be refuted only by parol evidence of fraud, duress, undue influence or mistake.
The signature card in issue recited the signatories were "joint tenants with right of survivorship and not as tenants in common," and "that any funds placed in or added to the account by any one of the parties is and shall be conclusively intended to be a gift . . . to the other signatory . . . to the extent of his or their pro rata interest . . . ." The trial court concluded the instrument was...
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...the entire proceeds of the account to vest in the donee-beneficiary upon his death. Estate of Fanning, supra; Moore v. Bowyer, 180 Ind.App. 429, 388 N.E.2d 611, (1979); Robison v. Fickle, 167 Ind.App. 651, 340 N.E.2d 824 (1976). Consequently, it is somewhat difficult to apply the third part......
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Ortiz v. Winona Memorial Hospital, 1:02-CV-1975-JDT-TAB (S.D. Ind. 6/4/2003)
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