Sale and Gift

May 19, 2023

A gift is a transaction in which things are given from one person to another without payment of any kind or other consideration; as a result, the donee receives the goods free of charge. It is not a sale because the price component is absent.

In sale there is a two way participation of give and take, whereas in gif there is a single participation comprising in form of a good or any other subject matter without consideration. In sale the seller and buyer participates whereas in gift they are known as  the one giving the gift is donor and the one taking it is done.

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