- Video
What is the Difference between a Gift and a Bargain?
Professor Todd Zywicki discusses why the distinction between a gift and a bargain is a fundamental concept for contract law. A bargain involves an exchange of promises on the part of all the parties involved. This results in a contract which can be upheld in a court. A gift is something that involves a promise on the part of the giver but there can be no reciprocal promise required of the recipient so it’s not pursuable in a court of law. https://youtube.com/watch?v=r_RVr4_wRIE