Which of the following is a way in which a gift differs from a purchase as a way of transferring ownership?
A) 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.
B) No consideration is needed for a gift.
C) No written contract is needed for a gift whereas it is needed for a purchase.
D) No certificate of title is needed for a gift whereas it is needed for a purchase.
E) Intent to permanently transfer title is irrelevant when gifts are concerned.
Correct Answer:
Verified
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