CHAPTER XVI 



GIFTS, WILLS, ADVANCES, USURY AND TAXES 

 I. GIFTS 



Gifts, especially between members of the same 

 family, being of frequent occurrence, and the 

 validity thereof often coming into question, the 

 rules relating to them should be rather fully 

 considered. 



A gift is the voluntary transfer of property to 

 another without anything being done or given 

 in return — in other words, no consideration is 

 necessary; if there is consideration, then it is 

 a contract and enforceable as such. But as the 

 law refuses to enforce promises unless given in 

 return for a consideration, a promise to give 

 something — that is, to make a gift — is of no 

 effect, and will not be enforced. In order to 

 be of any effect in law, the gift must be com- 

 pleted and fully executed as explained below. 

 If this is done, the law will then recognize the 

 gift and sustain the transfer of the property. 

 If the gift is once made and the transfer of the 

 property completed, the change of ownership is 



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