Multiple choice

Which of the following is incorrect?

  1. Gift is the transfer of ownership without consideration.

  2. Gift should be accepted during the lifetime of the owner.

  3. If donee dies before acceptance, the gift is void.

  4. Gift may be made only of movable property.
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

(4) Section 122 defines that "Gift" is the transfer of certain existing movable or immovable property made voluntarily and without consideration by one person called the donor to another called the donor and accepted by or on behalf of the donee. Acceptance to the gift must be made during the lifetime of the donor and while he is still capable of giving. If the donee dies before acceptance, the gift is void.

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