Asked by Kristine Mae Almodiel on May 28, 2024
Verified
Margaret told Bill she would give him her concert tickets. Later she changed her mind and decided she wanted to use the tickets after all. Is Margaret required to give Bill the tickets?
A) No, because there was no intent to make a present transfer.
B) No, because there was no delivery.
C) No, because there was no acceptance.
D) All of these are correct.
Present Transfer
The act of transferring ownership or interest in property or an asset to another party immediately, without delay.
Delivery
The act of transferring something from one party to another, with the intent to transfer ownership or possession.
Concert Tickets
Prices for admission to a live performance of music.
- Outline the legal prerequisites for an authentic gift, taking into account the delivery and acceptance aspects.
Verified Answer
JN
James NewtonMay 30, 2024
Final Answer :
D
Explanation :
All of these reasons are correct. For a gift to be legally effective, there must be intent to make a present transfer, delivery of the gift, and acceptance by the recipient. In this scenario, Margaret changed her mind before any of these criteria were fully met, especially delivery, making her not required to give Bill the tickets.
Learning Objectives
- Outline the legal prerequisites for an authentic gift, taking into account the delivery and acceptance aspects.