Only gifts given with consideration are revocable.

Question

Quizplus · Accepted Answer

Only gifts given with an intention to confer irrevocable ownership are irrevocable. Gifts given with consideration are not gifts at all, but rather a transaction or exchange, and therefore are always revocable. Gifts given with consideration (something of value given in exchange) are not gifts but rather contracts and are generally not revocable. Only gifts given without consideration can be considered revocable.

Only Gifts Given with Consideration Are Revocable