Correct option is D
The transfer must be for consideration is not an essential element of a gift. According to Section 122 of the Transfer of Property Act, 1882, a gift is the transfer of ownership of property from one person (the donor) to another (the donee) without any consideration, meaning it is gratuitous.
Information Booster:
A gift must involve the donor, donee, the subject matter (the property being transferred), and the voluntary transfer of ownership without consideration. Gifts are valid only if they are made out of love, affection, or charity.
Additional Knowledge:
· Donor and Donee: The essential parties to a gift.
· Subject matter: The property that is being gifted.
· Transfer of subject matter: The actual act of transferring ownership of the property.
