Among other methods of acquiring property, a great, much-used, and celebrated method is that of gift.

Explanation

(English-origin maxim.) Gift is one of the principal modes of acquiring property recognized at law — voluntary transfer without consideration is as valid a conveyance as sale or exchange.

Where this applies

• A grandmother gives her engagement ring to her granddaughter — the gift is a valid transfer of property even though no money changes hands.
• A neighbor donates a plot of land to a local church without any sale price, and the conveyance is legally effective as a gift.
• A philanthropist transfers stock certificates to a charity as a gift, and the law recognizes the transfer as a legitimate mode of acquiring property.