A gift promise requires the promisee to provide consideration.

Name: A gift promise requires the promisee to provide consideration.
Brand: Quizplus
Rating: 4.9 (52 reviews)

Question

Quizplus · Accepted Answer

A gift promise is a promise to give a gift without any expectation of receiving anything in return. Therefore, it does not require consideration. However, if the promisee gives consideration in exchange for the promise of a gift, then it becomes a binding contract.

A Gift Promise Requires the Promisee to Provide Consideration