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of the note to JUF; a letter from JUF acknowledging receipt of
the note as a charitable contribution; and his testimony that he
"transferred" the note to JUF. At best, this evidence
establishes that Kanter delivered during 1982 an unendorsed note
to JUF and a promise to pay his 1982 pledge to JUF on March 1,
1983. As indicated in Holding Co.'s letter, dated December 27,
1982, direct payment of the Holding Co. note to JUF was never
contemplated, which would have been the case if Kanter had
properly endorsed the Holding Co. note over to JUF. Rather,
payment of the note was to be made to Kanter who in turn would
pay JUF. Kanter failed to produce the original promissory note
or even a copy of the reverse side of the note that would
indicate whether the note was properly endorsed over to JUF.
We believe respondent's contention that Kanter failed to
contribute the note to JUF is supported by the evidence. When
the note became due in 1983, Holding Co. paid Kanter, rather than
JUF, the $15,000 face amount of the note plus $370 interest, and
Kanter, in 1983, paid $15,000 and no interest to JUF. If a
proper legal transfer of the note had been made so that JUF
became the true owner of the note and Kanter retained no dominion
or control, Holding Co. would have paid JUF directly. More
importantly, if Kanter had legally transferred the note to JUF in
December 1982, and no longer had any dominion or control over it
thereafter, then JUF, not Kanter, would have been entitled to the
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