A gift or present is the transfer of something, without the need for compensation that is involved in trade. A gift is a voluntary commitment which does not require anything in return. Even though it involves possibly a social expectation of reciprocity, or a return in the conformation of prestige or power, a gift is meant to be free.
At common law, for a gift to have innocent Visit Site effect, it was required that there be (1) intent by the donor to give a gift, (2) acceptance of the gift by the donee, and (3) delivery to the donee of the item to be given as a gift.