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 The creation of an inter vivos trust in money or securities, as distinguished from a testamentary trust, is governed by the law of the situs of the money or securities. 2 Beale, Conflict of Laws, § 294.3, p. 1019 (1935); Cutts v. Najdrowski, 123 N.J. Eq. 481, 483, (E. & A. 1937); Hutchison v. Ross, 262 N.Y. 381, 187 N.E. 65, 89 A.L.R. 1007 (Ct. App. 1933); Restatement, Conflict of Laws, § 294, subsec. (1), p. 376 (1934). The validity of an inter vivos trust of choses in action is determined  by the law of the place where the transaction takes place. Cutts, supra, at p. 483; Hooton v. Neeld, 12 N.J. 396, 407 (1953); Restatement, supra, § 294, subsec. (2). 

See In re Totten, 179 N.Y. 112, 71 N.E. 748, 70 L.R.A. 711 (Ct. App. 1904). 'A deposit by one person of his own money in his own name and as trustee for another, standing alone, does not establish an irrevocable trust during the lifetime of the depositor. It is a tentative trust merely, revocable at will, until the depositor dies or completes the gift in his lifetime by some unequivocal ...

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