What is required for a gift to be considered valid upon completion?

For a gift to be considered valid upon completion, it is essential that no consideration is required. In the context of gift law, a gift is an intentional transfer of property from one person (the donor) to another (the donee) without expecting anything in return. Unlike contracts, where consideration (something of value exchanged between parties) is necessary for validity, gifts operate under different principles.

The key elements that typically make a gift valid include the donor's intention to give the gift, the delivery of the gift, and acceptance by the recipient. Since a gift is given voluntarily and without any expectation of compensation, consideration from the receiver is not necessary for the gift to be valid. This distinguishes gifts from other types of agreements or contracts, where consideration is a fundamental requirement for enforceability.

This concept is critical in understanding the differentiation between gifts and contractual agreements, emphasizing the nature of generosity and voluntary transfer without reciprocal obligations.