A Promise to Make a Gift Is Usually Enforceable

question 10

True/False

A promise to make a gift is usually enforceable.

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Definitions:

True Ownership

The actual possession of a right, property, or interest, legally recognized and free from any dispute or contention.

Tenants-In-Common

A form of co-ownership where each tenant (or owner) has an undivided interest in the property, and may have differing share sizes.

Ownership

The legal right to possess, use, control, and dispose of property, assets, or intellectual property.

Restrictive Covenants

Agreements included in contracts that restrict or limit actions of the parties, often related to employment, land use, or business operations.