The element that distinguishes a contract from a gift is
A)performance of the offeror's or donor's promise.
B)the element of consideration which is present in a contract,but not in a gift.
C)whether or not the offeree or donee accepts the offer.
D)whether or not the subject of the gift or contract is illegal.

Question

Quizplus · Accepted Answer

The element that distinguishes a contract from a gift is the presence of consideration. A contract requires consideration, which is something of value exchanged between the parties, whereas a gift is given without the expectation of receiving anything in return. Performance of the offeror's or donor's promise, acceptance of the offer, and legality of the subject matter are all important elements of a contract, but they do not distinguish a contract from a gift.

The Element That Distinguishes a Contract from a Gift Is