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Section 124. Gift of existing and future property
- A gift comprising both existing and future property is void as to the latter.
Section 125. Gift to several of whom one does not accept - A gift of a thing to two or more donees, of whom one does not accept it, is void as to the interest which he would have taken had he accepted. https://www.mhc.tn.gov.in/judis/ S.A.Nos.496 and 497 of 2021 Section 126. When gift may be suspended or revoked - The donor and done may agree that on the happening of any specified event which does not depend on the will of the donor a gift shall be suspended or revoked; but a gift which the parties agree shall be revocable wholly or in part, at the mere will of the donor, is void wholly or in part, as the case may be. A gift may also be revoked in any of the cases (save want or failure of consideration) in which, if it were a contract, it might be rescinded. Save as aforesaid, a gift cannot be revoked. Nothing contained in this section shall be deemed to affect the rights of transferees for consideration without notice.