What Is Meant by a Chattel

question 63

Short Answer

What is meant by a chattel?

---

Definitions:

Valid Gift

A gift that meets all legal requirements for its transfer from one party to another without the expectation of payment or return.

Traditional Rule

Refers to long-established norms or practices that dictate certain procedures or behaviors, often in legal or societal contexts.

Conditional Gift

A stipulation in which the transfer of an asset, money, or property is subject to fulfilling a specific condition by the receiver.

Incomplete Gift

A gift for which the legal process of transfer has not been entirely finalized or where the donor has retained some control over the gift.