Nature A gift is a transfer of property gratuitously. It is usually contrasted with a bequest or legacy under a will in that the donor is still alive. In certain cases where the donor makes, transfers property in expectation of death, it is treated for tax and certain other purposes as given on death. A gift involves the intention of […]
Setting Aside a Gift The presumption is that gifts may not be revoked once given. A gift may be revocable by its terms. Gifts may be set aside if induced by fraud, mistake or misrepresentation or undue influence. There are many cases in Ireland over the years where gifts have been set aside when made by older, vulnerable persons in […]
Delivery and Goods A gift of goods is incomplete without delivery. Delivery is the mechanism by which goods are passed. Physical delivery may not be required if constructive delivery takes place. Where goods cannot be physically delivered because of their bulk, they maybe constructively delivered by means. Delivery of a key or equivalent. A part of a set may be […]
Companies A limited company did not have power to gratuitously transfer assets. There was a presumption that it did not have such power where it is incorporated for the purpose of a trading business which does not contemplate gift. There was a tendency to interpret objects and Memorandum of a company as being for commercial purposes towards the business. However, […]
Burdensome Gift Where a gift is made of property subject to a charge and there is no reference to the charge, then if the donor created the charge and is liable, the donee cannot be called to pay any part of it. If the donor took the property subject to the charge, whether or not he is liable to pay […]
Gifts in Contemplation of Death Gifts in contemplation of death, a gift made in contemplation though not necessarily in immediate expectation of death in circumstances which show that it is to take effect only in the event of death are valid revocable gifts. They may be revocable in the event that the donor does not die or recover. Formerly, gifts […]