Gifts I: Inter Vivos Gifts
This lesson addresses inter vivos gifts of property, focusing primarily on personal property (but with a brief discussion of inter vivos gifts of land). The lesson explores the function of the various requirements (donative intent, delivery, and acceptance) for a valid inter vivos gift and the policies implicated by the law of gifts. The lesson includes a wide variety of problems designed to test student understanding of the rules governing inter vivos gifts.
On completion of the lesson, the student will be able to:
1. Define the following terms: gift, inter vivos gift, delivery, acceptance.
2. Identify the elements of a successful inter vivos gift.
3. Explain donative intent.
4. Discuss the circumstances under which the delivery requirement might be excused by the courts.
5. Explain effective delivery to a third party (escrow).
6. Compare the effects of a conditional gift and an unconditional gift.