- Published on
KembaraXtra – Legal Terms – Perfect Gift
A perfect gift is a gift in which ownership of the property has been fully transferred from the donor to the donee.
Once perfected, the gift becomes legally complete and irrevocable.
Equity generally will not assist in completing an imperfect gift.
A mere promise to make a gift is usually unenforceable because no consideration is given.
The doctrine is closely linked to principles governing trusts and voluntary transfers.
A perfect gift is a gift in which ownership of the property has been fully transferred from the donor to the donee.
Once perfected, the gift becomes legally complete and irrevocable.
Equity generally will not assist in completing an imperfect gift.
A mere promise to make a gift is usually unenforceable because no consideration is given.
The doctrine is closely linked to principles governing trusts and voluntary transfers.
0 Comments