Which of the following statement(s) about gift is/are correct?

A transfer of ownership of property that is made voluntarily and without consideration is called Gift The person making the transfer is called the Giftor and the person to whom it is made is called the Giftee. The gift remains valid even if the donee expires before accepting the gift. Both 1 and 2

A transfer of ownership of property that is made voluntarily and without consideration is called Gift

A transfer of ownership of property that is made voluntarily and without consideration is called Gift (Section 122 of the TPA). The person making the transfer is called the donor and the person to whom it is made is called the donee. If the donee expires before accepting the gift, it becomes void.