Which of the following statement regarding 'Gift under

Solution

Option 1 … Section 122 - “Gift” defined—“Gift” is the transfer of certain existing moveable or immoveable property made voluntarily and without consideration, by one person, called the donor, to another, called the donee, and accepted by or on behalf of the done Existing and not future Option 2 … Incorrect as Transferor is known as donor and tranferee is known as done Option 3 …Section 122 …. If the donee dies before acceptance, the gift is void.