There is no consideration and therefore no enforceable contract for transactions relating to Gifts.
A gift is a contract without fair consideration and requires performance to be valid. A valid gift is therefore a concluded contract by the giver's actual delivery of the gifted item to the donee or someone on behalf of the donee, or by the giver's delivery of the means of obtaining the gifted item without further action for possession.
The intention to give must be accompanied by service, and service must be done with the intention to do. Otherwise, there is only the intention or promise of being gratuitous, and it is simply void. The transfer of ownership of the gift item or means of obtaining it is essential to making a valid donation, in order to render it an irrevocable disposal.
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Answer:
The answer is a) incentive.
Explanation:
An incentive is defined as an extrinsic or intrinsic motivator that will reward a person after performing a given task.
Some traditional examples of incentives are getting good grades, money or any sort of material reward; however, intrinsic motivators are also present in modern society, as in the competency based education system.
The only authorized website for free credit reports is Annual Credit Report (dot com). Every individual is entitled to one free credit report every 12 months from each of 3 nationwide credit reporting companies (Equifax, Experian, TransUnion). To receive a free credit report, following information needs to be provided in order to verify the identity:
- Name
- Address
- Social Security Number
- Date of Birth
This is possible because of The Fair Credit Reporting Act (FCRA). The Federal Trade Commission is responsible for enforcing this Act.
