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'Gift defined-'Gift' is the transfer of certain existing movable or immovable property made voluntarily and without consideration, by one person, called the donor, to another, called the donee, and accepted by or on behalf of the donee.

Acceptance when to be made-Such acceptance must be made during the life time of the donor and while he is still capable of giving. If the donee dies before acceptance, the gift is void.' Unless there is acceptance there can be no gift. In the judgment relied on by the learned counsel for the appellant in (1996) 2CTC 150 (cited supra), there is a reference to the decision reported in Venkatasubbamma v. Narayanaswami AIR 1954 Mad 215.

Acceptance when to be made-Such acceptance must be made during the lifetime of the donor and while he is still capable of giving.

If the donee dies before acceptance, the gift is void.

123. Transfer how affected: For the purpose of making a gift of immovable property, the transfer must be effected by a registered instrument signed by or on behalf of the donor, and attested by at least two witnesses.

For the purpose of making a gift of movable property, the transfer may be effected either by a registered instrument signed as aforesaid or by delivery.

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."

7.1 In view of the above provisions of the TP Act, the gift can be revoked if the donor and donee agree with, on the happening of any specified event. particularly which does not depend on the will of the donor, a gift can be revoked. The gift can also be revoked if it is a contract as envisaged in the provisions of section 126 of the TP Act which clearly states that "Save as aforesaid, a gift cannot be revoked." A gift is a transfer of property and when an absolute gift is made, subject to a condition restricting alienation, the condition would be void. A gift may be subject to the condition precedent under section 27, and there is no transfer and no gift unless and until the condition is fulfilled. Revocation under the first paragraph of this depends upon the donor and the donee at the time of acceptance agreeing to a condition subsequent which puts an end to the gift. The condition must be made at the time, the donor cannot impose such a condition after the gift is absolute. And furthermore such a condition must be expressed. In the absence of such condition the donor has no power for revocation. In view of the provisions of section 126 of the TP Act, the condition cannot depend upon the will of the donor and a gift revocable at pleasure is no gift at all. This provision provides only two conditions where a gift can be revoked and which are as under:

7.2. Now I have drawn my strength on conditional gift from Halsbury's Laws of England, 3rd Edn., Vol. 18, p. 389 which is as follows :

"Gifts may be made subject to conditions either precedent or subsequent. A condition precedent is one to be performed before the gift takes effect. A condition subsequent is one to be performed after the gift had taken effect, and, if the condition is unfulfilled, will put an end to the gift; but, if a condition subsequent is void, the gift remains good. If the words of the condition are capable of being construed either as a condition precedent or as a condition subsequent but the words of the written instrument point to the inference that the donors intended the condition to be subsequent rather than precedent, the court will hold the condition to be subsequent."