BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The transfer of ownership without receiving anything in return is called a gift.
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TRUE
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FALSE
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Explanation:
Detailed explanation-1: -The gift deed is an instrument through which the immovable or movable property owner transfers his/her property to another person without consideration as a gift. The person gifting his/her property is called the donor, and the person accepting the gift is the donee.
Detailed explanation-2: -Which of the following is a true statement about remedies for breach of contract? If the payment of money is an adequate substitute for performance by the breaching party, the nonbreaching party must seek damages and may not pursue the remedy of specific performance.
Detailed explanation-3: -Consideration is defined as something of legal value given in exchange for a promise.
There is 1 question to complete.