Which of the following is true of a gift promise?
A)A gift promise can be enforced by a court of law.
B)A completed gift promise cannot be cancelled for lack of consideration.
C)A gift promise contains mutual consideration.
D)The promisee can take legal action if the promisor does not fulfill the gift promise.

Question

Quizplus · Accepted Answer

A completed gift promise cannot be cancelled for lack of consideration because once the gift is given, the transfer of property is complete, and consideration is not required for the transfer to be valid.

Which of the Following Is True of a Gift Promise