A lifetime transfer that is supported by full and adequate consideration is not a gift.

Name: A lifetime transfer that is supported by full and adequate consideration is not a gift.
Brand: Quizplus
Rating: 4.9 (53 reviews)

Question

Quizplus · Accepted Answer

A transfer supported by full and adequate consideration means the giver receives something of equal value in return, which does not qualify as a gift since a gift implies giving something without expecting anything in return.

A Lifetime Transfer That Is Supported by Full and Adequate