Which of the following statements is true of voluntary transfers of personal property?
A) All transfers of ownership require formal registration with a government agency.
B) A promise to make a gift is enforceable in court.
C) Once made, a gift is an irrevocable transfer.
D) For a valid gift to occur, the donor must accept the gift.

Question

Quizplus · Accepted Answer

Once a gift is made, it is generally considered an irrevocable transfer, meaning the donor cannot take it back unless certain conditions apply, such as fraud or duress.

Which of the Following Statements Is True of Voluntary Transfers