A gift differs from a purchase as a way of transferring ownership in which of the following ways?
A) No written contract is needed for a gift whereas it is needed for a purchase.
B) No consideration is needed for a gift.
C) No certificate of title is needed for a gift whereas it is needed for a purchase.
D) Once delivered a gift may be taken back by the person who gave the gift whereas that is not true when an item is purchased.
E) Intent to permanently transfer title is irrelevant when gifts are concerned.
Correct Answer:
Verified
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