Irvin v. Jones

Bernice Jones (defendant) bought $10,000 certificates of deposit for her grandnieces and grandnephews, including Kenny, Doug, and Mike Irvin (plaintiffs), naming the CDs payable to herself or the recipients with survivorship rights, but she kept physical possession of the CDs the entire time. After the Irvins' mother and Jones's nephew divorced, Jones cashed in the CDs for roughly $15,000 each, and the Irvins sued to recover that value; the trial court granted Jones summary judgment because she had never delivered the CDs.