Angie voluntarily transfers her prize-winning horse Beaux to Cady without consideration. Provided all of the requirements are met, this is acquisition of property by

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01-06-2022
Social Studies

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Angie voluntarily transfers her prize-winning horse Beaux to Cady without consideration. Provided all of the requirements are met, this is acquisition of property by

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suchetasVT suchetasVT · Answer 1 · 2022-06-14T06:16:07+02:00

Angie voluntarily transferred her prize-winning horse Beauxyo cady without any consideration. provided all of the requirements are fulfilled, then this is acquisition of property by gift.

What do you mean by acquisition of property by gift?

The complete question is here:

Provided all of the requirements are met, this is the acquisition of property by:

a. possession.

b. gift.

c. conversion.

d. accession.

A gift is a transfer of possession from one party to any other without the consideration (mutual trade of value) essential to set up an enforceable contract. A gift may, however, transfer possession of the property.

Hence, the correct statememt is Option B.

Learn more about Gift possession here:

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