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Showing contexts for: conditional gift in Pagadala Bharathi And Another vs J.Radha Krishna on 15 November, 2012Matching Fragments
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be revoked in any of the cases (save want or failure of consideration) in which, if it were a contract, it might be rescinded.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".
12. The learned counsel for the appellants contends that when once a valid gift has been executed without any reservation of right for cancellation, the cancellation is not valid and consequently, the plaintiff cannot get rights in the schedule property and the Will Ex.A.4 cannot supersede the gift deed Ex.B.1. The cancellation deed Ex.A.2 is therefore, not a valid document. Evidently, the date of gift is 10.01.1986. The cancellation deed Ex.A.2 is dated 30.12.1996. According to him, the gift was accepted and the trial Court has accepted the possession of item No.1. So far as item No.2 is concerned, admittedly, the appellants are in possession of the property and consequently, the judgments of the Court below are vitiated by serious error of law. On the other hand, the learned counsel for the respondent contends that the gift is not valid as there is no delivery of possession of the property and it was a conditional gift of maintaining the deceased K.V.G. Murthy and as the promise has failed the gift deed was cancelled and consequently, the appellants have no right in the property.
"It would thus be clear that the execution of a registered gift deed, acceptance of the gift and delivery of the property, together make the gift complete".
16. But, in fact, if the entire judgment is read and keeping in view the essentials in para Nos.5 and 6 referred above, it cannot be said that the Court was laying the law that possession of the property is essential for making a gift valid. Therefore, relying on this decision, the learned counsel for the respondent cannot advance much argument and in that case possession was delivered and it was referred by the Court. In this connection, it is useful to refer to the judgment of the Hon'ble Supreme Court reported in Asokan Vs. Lakshmikutty and others2, whereunder the conditions of a valid gift have been specifically mentioned, as follows: