A gift is valid only if the donee gives the same amount of consideration for the property that the donor gives.

Name: A gift is valid only if the donee gives the same amount of consideration for the property that the donor gives.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

A gift is defined as a transfer of property without any consideration or expectation of compensation from the donee. The donee is not required to give any consideration in return for the gift, otherwise it would be a sale or exchange rather than a gift.

A Gift Is Valid Only If the Donee Gives the Same