Posted by Dean Arthur on May 02, 1997 at 04:57:12:
In Reply to: Gift Tax? posted by Chris Kerr on February 16, 1997 at 13:40:54:
: 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