Posted by Common Right Group on July 30, 1997 at 17:17:19:
In Reply to: Re: Gift Tax? posted by Dean Arthur on May 02, 1997 at 04:57:12:
: : From a state citizen's stanpoint, does this 'gift tax' apply? I feel pretty sure it does not. Someone wishes to pass me bonds, but the company that has them says they need his signature as well as mine. This strikes me as odd firstoff, notwithstanding that anytime you sign anything you are in most probability 'waving' something. Any suggestions for the best way to do this? Liquidate and then pass? But I don't know as i'm unclear on how 'gift taxes' or any other such taxes apply here. Anyone have advice?
: Read Andersen's Uniform Commercial Code.
: Especially the sections under 1-207 and 3-501.
: Also 1-103 and 1-106. Then go to the individual
: who says you have to sign and keep in mind what
: 3-501 and 1-207 say when you sign.
: In any action involving a signature I either use
: w/o prejudice above my signature or I don't sign.
: I've had people tell me I can't put anything but
: my signature on a form. When I say I'm protecting
: myself against an unconscionable contract they've
: told me what I'm signing isn't a contract. My
: response is that if it isn't a contract then I
: don't have to sign anything as only contracts
: require signatures.
: "My people perish for lack of knowledge..." Hosea
Slightly over 150% agree that only contracts, agreements, and/or covenants require signatures or seals. Just tripped over something relevant this last weekend.
Sometimes when someone tells you that the instrument is not a "contract" they're telling the truth. It might be a covenant. Big time caveat here!
A contract is an agreement entered into by two or more specified parties, all of whom have signed the paper.
A covenenant, on the other hand, may have undisclosed outside parties. For example, a Driver's License which has the seal of the State on it is a covenant. Not only the parties signing (or signing for) are party, but everyone and everything "behind the seal" is party. If the State has a compact with other States and the U.S., they are party. If the U.S. has agreements with the U.N., they are party through the U.S. through the State's compact(s) with the U.S., etc.
Ain't life just grand? It's worse than Hosea 4:6. By the way, Hosea 4:6 really says, "My people are CUT OFF for lack of knowledge...". We get our stuff by going back to original Hebrew, Greek and Aramaic lexical aids. We don't think the King Jimmy authorized version of the Bible is completely honest and truthful throughout.
Bill