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LSDefine
Simple English definitions for legal terms
gift
Read a random definition: APJ
A quick definition of gift:
Gift: A gift is when someone gives something to another person without expecting anything in return. For a gift to be real, three things must happen: the person giving the gift must want to give it, they must actually give it to the other person, and the other person must accept it.
A more thorough explanation:
Definition: A gift is a voluntary transfer of a benefit without the need for any compensation or consideration. For a gift to be legally valid, three elements must be met:
- Intent to give: The donor must have the intention to make a gift to the recipient.
- Delivery: The gift must be delivered to the recipient.
- Acceptance: The recipient must accept the gift.
Example: John decides to give his car to his friend, Sarah, as a gift. He tells her that he wants to give her the car, hands her the keys, and she accepts the gift. This is a legally valid gift because all three elements are met.
Example: Mary promises to give her friend, Tom, her old laptop as a gift. However, she never delivers the laptop to him. This is not a legally valid gift because the delivery element is not met.
Explanation: A gift is a transfer of ownership without any exchange of money or other consideration. The donor must have the intention to give the gift, deliver it to the recipient, and the recipient must accept it. If any of these elements are missing, the gift is not legally valid.