Case 27-1

Anthony Stefano has signed his bonds and other negotiable instruments payable to his sons to avoid probate taxes after his death. One son, Leo, is the executor of the estate, and the other Marc, lives in California. The checks are all mailed to Anthony's old home in which Leo now resides. Leo deposits all checks into First national bank. Marc requested his funds from the bank, and the bank denied. The bank refuses to give the money because the checks were delivered to Leo, not Marc. Even though Marc was not there for constructive delivery and did not recieve money himself, because Leo is the agent of the estate, Marc holds a valid claim to the money.