With a gift agreement, one person (the donor) commits to transferring ownership or another right to another person (the donee) without compensation or otherwise enriching the donee at the expense of their own property, while the donee declares their consent.²³⁵

The gift agreement is the most important gratuitous contract. The rules applicable to gift agreements also apply to all gratuitous relationships that are not specifically regulated. The donor receives nothing in return for the gift, while the donee benefits without giving up anything.²³⁶

According to the provisions of the OZ, a gift agreement can be concluded in two ways:

• The donor immediately delivers the gift to the donee upon mutual agreement.
• A gift agreement is concluded in writing, which must include a description of the donor’s obligation and the donee’s consent.

For the validity of a gift agreement that is immediately fulfilled, no special form is required. If the donor intends to give a gift and immediately delivers it to the donee upon their consent, the gift agreement is considered validly concluded and fulfilled.

If an orally agreed gift is not immediately fulfilled, the donor is not obligated to give the gift, and the donee has no right to demand it. Such an agreement, made orally but not fulfilled, is called a gift promise. A gift promise is not enforceable unless it is in written form.²³⁷

The donor may, in certain cases, also revoke the gift agreement. This is referred to as the donor’s withdrawal from the contract, which the OZ calls “Revocation” in the section on gift agreements. There are three reasons for revocation:²³⁸

• Revocation due to distress.
• Revocation due to serious ingratitude.
• Revocation due to subsequently born children.

By declaring revocation, the donor requests the return of the gift or payment of its value. If the gift agreement has not yet been fulfilled, revocation results in the termination of the donor’s obligation. The gift agreement can be revoked within one year from the moment the donor learns of the reason for revocation.²³⁹

A waiver of revocation is void, meaning the donor cannot renounce the right to revoke the agreement in advance due to a potential future reason for revocation..²⁴⁰

Exercise:

A gift agreement is:

• A unilateral legal transaction.
• A bilateral legal transaction that binds both parties.
• An option.
• An acquisitive legal transaction.
• A unilaterally binding legal transaction.²⁴¹