A donee must give consideration for a gift to be effective.

Name: A donee must give consideration for a gift to be effective.
Brand: Quizplus
Rating: 4.9 (29 reviews)

Question

Quizplus · Accepted Answer

A gift is a voluntary transfer of property without consideration or compensation. The donee does not need to provide or give anything in exchange for the gift. Consideration is only relevant in contracts, not gifts. Therefore, no consideration is required for a gift to be effective.

A Donee Must Give Consideration for a Gift to Be