§ 1040 Voluntary Transfer Contracts

• •A voluntary transfer is treated like a regular contract.
• •No consideration (something of value) is required for it to be valid.
• •The transfer must be truly voluntary, not forced.

Your neighbor promises to give you their lawn mower as a gift, and you accept it.

Because the neighbor's promise was made voluntarily, the law treats it like a contract even though you didn't give anything in return. You can enforce the promise if they later try to take the mower back.