Asked by Hannah Turner on Jun 11, 2024
Verified
Why are delivery and acceptance both necessary to have a valid gift? Explain.
Valid Gift
A gift that meets all legal requirements to be considered legally effective, typically involving a clear intention to give, acceptance by the recipient, and delivery of the gift.
Delivery
The process of transferring goods from one party to another, completing the sale or fulfilling a term in a contract.
Acceptance
is the agreement to the terms of an offer, contract, or proposal, thus forming a binding contract between the parties.
- Explain the legal requirements for a valid gift, including delivery and acceptance.
Verified Answer
HH
H?c hành - Gi?i tríJun 16, 2024
Final Answer :
Because a gift involves no consideration or compensation, it is necessary to have delivery of the gift in order for it to be effective. The donee must accept the gift so as to not impose a burden upon the donee for something that is not wanted.
Learning Objectives
- Explain the legal requirements for a valid gift, including delivery and acceptance.