Which of the Following Is True of Gifts

question 31

Multiple Choice

Which of the following is true of gifts?

• A)The transfer of a gift involves compensation but not consideration.
• B)A gift is a declaration of an intention to give in the future rather than a present transfer.
• C)A gift is a voluntary transfer of property.
• D)A gift requires consideration but not necessarily compensation.
• E)A gift depends on the intention of the giver,but not on the acceptance of the donee.

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Definitions:

Potlatch

A ceremonial feast among indigenous peoples of the Pacific Northwest with social, cultural, and economic functions, including the redistribution and reciprocity of wealth.

Modern-Day Equivalent

An updated or contemporary version that serves the same purpose or fulfills the same role as something from the past.

Low-Status Ethnic Group

A low-status ethnic group is regarded as having less power, privilege, and social standing compared to other ethnic groups within a society.

Practising Lawyer

A legal professional who holds a valid license to practice law and actively offers legal services to clients, appearing in court or providing legal advice.