Which of the Following Is a Way in Which a Gift

question 55

Multiple Choice

Which of the following is a way in which a gift differs from a purchase as a way of transferring ownership?

• A) Once delivered a gift may be taken back by the person who gave the gift whereas that is not true when an item is purchased.
• B) No consideration is needed for a gift.
• C) No written contract is needed for a gift whereas it is needed for a purchase.
• D) No certificate of title is needed for a gift whereas it is needed for a purchase.
• E) Intent to permanently transfer title is irrelevant when gifts are concerned.

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