What is meant by 'onerous gift' ?
CS Executive · Economic and Commercial Laws · PYQS · June 2016
What is meant by 'onerous gift' ?
Answer & Explanation:
Several things are transferred as a gift by single transaction. Whereas some of them are really beneficial, the others convey burdensome obligations. The result is that the benefit which it confers is more than counter balanced by the burden it places. For instance, A makes a gift of shares in the companies X and Y. X is prosperous but heavy calls are expected in respect of shares in Y company. The gift is onerous. The rule as laid down in Section 127 of Transfer of Property Act, 1882 is that the donee takes nothing by the gift unless he accepts it fully. Where the gift is in the form of two or more independent transfers to the same person of several things, the donee is at liberty to accept one of them and refuse the other.
Topics: Transfer of Property Act, 1882
Related Questions in this Topic
- Mohan, who separated from his father Krishan, sells to Raghav three fields, X, Y and Z, representing that Mohan is autho...
- A is the owner of a property and his son B is the heir of this property having hope expectancy that he will inherit the ...
- X wants to make gift of property to Y which is to come in his hands in future. Whether this gift is valid?
- A transfers to B for valuable consideration his reversionary interest in a property. When A succeeds to the property, B ...
- A orally grants to B the rights to catch and carry away fish from his lake for ₹1,000 but later on A backs out. What is ...