In January, Roger Burke loaned his favourite nephew, Jimmy White, his appreciated Picasso painting. Knowing that Jimmy would celebrate his twenty-first birthday on May 15, Burke sent a letter to Jimmy on April 14 stating-
Dear Jimmy,
Tomorrow I leave on my annual trip to Europe as well as I want to make you a fitting birthday gift which I do by sending you my fenced promissory note. As well I want you to keep the Picasso that I loaned you last January as well as you may not consider it yours.
Happy Birthday!
Affectionately,
/s/Uncle Roger
The negotiable promissory note for $5,000 sent with the letter was employed by Roger Burke, owed to Jimmy White or bearer, and dated May 15. On May 21, Burke was murdered in an automobile accident while motoring in France.
First Bank was employed administrator of Burke's estate. Jimmy offered the note to the administrator and demanded payment, which was refused. Jimmy carried an action against First Bank as administrator seeking recovery on the note. The administrator in turn transported an action against Jimmy seeking the return of the Picasso.
a. What conclusion in the action on the note?
b. What conclusion in the action to recover the painting?