Gift

For other uses, see Gift (disambiguation).

A gift or present is the transfer of money, goods, etc., without the need for compensation that is involved in trade. A gift is a voluntary act which does not require anything in return. Even though it involves possibly a social expectation of reciprocity, or a return in the form of prestige or power, a gift is meant to be free. In many human societies, the act of mutually exchanging gifts may contribute to social cohesion. Economists have elaborated the economics of gift-giving into the notion of a gift economy.

By extension the term gift can refer to anything that makes the other more happy or less sad, especially as a favour, including forgiveness and kindness (even when the other is not kind).

Presentation

When material objects are given as gifts, in many cultures they are traditionally packaged in some manner. For example, in Western culture, gifts are often wrapped in wrapping paper and accompanied by a gift note which may note the occasion, the giftee's name, and the giver's name. In Chinese culture, red wrapping connotes luck.

Occasions

Gifts under a Christmas tree.

The occasion may be:

• Expression of love or friendship
• Expression of gratitude for a gift received
• Expression of piety, in the form of charity
• Expression of solidarity, in the form of mutual aid
• To share wealth
• To offset misfortune
• Offering travel souvenirs
• Custom, on occasions (often celebrations) such as
  • A birthday (the person who has his or her birthday gives cake, etc. and/or receives gifts)
  • A potlatch, in societies where status is associated with gift-giving rather than acquisition.
  • Christmas (people give each other gifts, often supposedly receiving them from Santa Claus)
  • Saint Nicholas (people give each other gifts, often supposedly receiving them from Saint Nicholas)
  • A wedding (the couple receives gifts and gives food and/or drinks at the wedding reception)
  • A wedding anniversary (each spouse receives gifts)
  • A funeral (visitors bring flowers, the relatives of the deceased give food and/or drinks after the ceremonial part)
  • A birth (the baby receives gifts)
  • Passing an examination (the student receives gifts)
  • Father's Day (the father receives gifts)
  • Mother's Day (the mother receives gifts)
  • Exchange of gifts between a guest and a host, often a traditional practice
  • Giving a round of drinks in a bar.
  • Lagniappe

Kinds of gifts

A gift may be one of

• an ordinary object,
• an object created for the express purpose of gift exchange, such as the armbands and necklaces in the Trobriand Islands' Kula exchange,
• an alternative gift such as a donation to a charity in the name of the recipient.
• a regift of an unwanted gift previously received by the giver.

Legal aspects of gifts

At common law, for a gift to have legal effect, it was required that there be (1) intent by the donor to give a gift, (2) acceptance of the gift by the donee, and (3) delivery to the donee of the item to be given as a gift.

In the United States and some other countries, certain types of gifts above a certain monetary amount are subject to taxation. See gift tax for more information.

Religious views

Ritual sacrifices can be seen as return gifts to a deity. Sacrifice can also be seen as a gift from a deity: Lewis Hyde remarks in The Gift that Christianity considers the Incarnation and subsequent death of Jesus to be a "gift" to humankind, and that the Jakata contains a tale of the Buddha in his incarnation as the Wise Hare giving the ultimate alms by offering himself up as a meal for Sakka. (Hyde, 1983, 58-60)

See also

• Alms
• Altruism
• Atonement
• Charity
• Debt relief
• Gift (law)
• Gift tax
• Giving circles
• Random act of kindness
• Red packet
• Regiving
• Souvenir
• TANSTAAFL
• Extragratis
• Gratis versus Libre

A gift, in the law of property, has a very specific meaning. In order for a gift to be legally effective, the grantor must have intended to give the gift to the grantee. The gift must actually be delivered to and accepted by the grantee.

Gifts can be inter vivos - during the life of the grantor - or causa mortis - made by the grantor in anticipation of their own death. A gift causa mortis (or donatio mortis causa) is not effective unless the grantor actually dies of the impending peril that he or she had contemplated when giving the gift.

Intention

The grantor (or donor) of the gift must have a present intent to make a gift of the property to the grantee. A promise to make a gift in the future is unenforceable, and legally meaningless, even if the promise is accompanied by a present transfer of the physical property in question.

Suppose, for example, that a man gives a woman a ring and tells her that it is for her next birthday and to hold on to it until then. The man has not made a gift, and could legally demand the ring back on the day before the woman's birthday. In contrast, suppose a man gives a woman a deed and tells her it will be in her best interest if the deed stays in his safety deposit box. The man has made a gift and would be unable to successfully reclaim it.

Delivery

The gift must be delivered to the grantee. If the gift is of a type that can not be delivered in the conventional sense - a house, or a bank account - the delivery can be effected by a constructive delivery, wherein a tangible item allowing access to the gift - a deed or key to the house, a passbook for the bank account - is delivered instead. Symbolic delivery is also sometimes permissible where manual delivery is impractical, such as the delivery of a key that does not actually open anything, but is intended to symbolize the transfer of ownership.

Certain forms of property must be transferred following particular formalities described by statute law. In the United Kingdom, real property must be transferred by a written deed (s. 52 Law of Property Act 1925). The transfer of equitable interests must be performed in writing by the owner or their agent.

Acceptance

The grantee (or donee) must accept the gift. However, because people generally accept gifts, acceptance will be presumed, so long as the grantee does not expressly reject the gift. A rejection of the gift destroys the gift, so that a grantee can not revive a once-rejected gift by later accepting it. In order for such an acceptance to be effective, the grantor would have to extend the offer of the gift again.

Revocation

A donor may revoke a future gift, however a gift delivered and accepted cannot be revoked.

See also

• Gift tax

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