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So in this video, we will discuss gift and essentials of gift:
Gift:
Meaning: Arabic word HIBA
Mode of transfer of Property where a person declared his/her intention to transfer his property to the other without consideration.
Essentials of Gift:
Transfer of property
Declaration of Intention
without consideration
Acceptance by the other party
If all the essentials are fulfilled then we can say that gift is complete.
Competency of Gift:
Person must be major
Person must be sound mind
Donor: Person transferring the property/ Giving the gift
Donee: Person accepting the gift
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