Which of the following statements is true about a promise to make a gift?
A) Upon delivery of the item, a true gift can be enforceable as a property transfer.
B) Promissory estoppel prevents a gift from being enforceable.
C) A promise to make a gift is binding as a contract as it usually supports the bargain.
D) A promise to make a gift becomes an option when it has a clause in the agreement that revokes the gift.
E) Insignificant consideration in return for a great one raises concerns that the exchange is actually not a gift.

Question

Quizplus · Accepted Answer

The promise to give something to another-in other words, a promise to make a gift-is not binding as a contract because no bargained-for consideration supports the promise. Note that a true gift can be enforceable as a property transfer (not a contract), but it requires delivery of the item. Moreover, even a promise to make a gift may be enforceable under a non-contract theory called promissory estoppel.

Which of the Following Statements Is True About a Promise