First, the relevant provisions of the gift contract law
Legally speaking, as long as the donor has the corresponding capacity for civil conduct and has the right to dispose of the donated property and give it to others voluntarily, the gift contract will have legal effect after being signed by the donor and the recipient.
According to the Civil Code
Article 657 A gift contract is a contract in which the donor gives his property to the donee free of charge and the donee expresses his acceptance of the gift.
Article 658 The donor may revoke the gift before the right to donate the property is transferred.
The provisions of the preceding paragraph shall not apply to notarized gift contracts or gift contracts with public welfare nature and moral obligations such as disaster relief, poverty alleviation and disability assistance, which are irrevocable according to law.
Article 659 If the donated property needs to go through registration or other formalities according to law, it shall go through the relevant formalities.
Article 660 If the donor fails to deliver the donated property in a notarized gift contract or a gift contract with legally irrevocable public welfare nature and moral obligations such as disaster relief, poverty alleviation and disability assistance, the donee may request delivery.
If the donated property that should be delivered in accordance with the provisions of the preceding paragraph is damaged or lost due to the intentional or gross negligence of the donor, the donor shall be liable for compensation.
Article 661 A gift contract with obligations may include obligations.
If the gift is accompanied by obligations, the donee shall perform the obligations as agreed.
Article 662 Where the donated property is defective, the donor shall not be liable. If the donated property is defective, the donor shall bear the same responsibilities as the seller within the scope of obligations.
If the donor intentionally fails to inform of the defects or fails to guarantee that there are no defects, thus causing losses to the donee, he shall be liable for compensation.
Second, how to terminate the gift contract
There are two kinds of rescission of the gift contract: arbitrary rescission and legal rescission. Before the ownership of the donated property is transferred, the donor may terminate the gift contract, except for public welfare gifts and notarized gifts.
People's Republic of China (PRC) Civil Code
Article 658 The donor may revoke the gift before the right to donate the property is transferred.
The provisions of the preceding paragraph shall not apply to notarized gift contracts or gift contracts with public welfare nature and moral obligations such as disaster relief, poverty alleviation and disability assistance, which are irrevocable according to law.
Article 663 During the period when the donor's legal revocation right is exercised, the donor may revoke the gift under any of the following circumstances:
(a) serious infringement of the legitimate rights and interests of the donor or the donor's close relatives;
(two) the donor has the obligation to support and fails to perform;
(3) Failing to perform the obligations stipulated in the gift contract.
The donor's right of revocation shall be exercised within one year from the date when he knows or should know the reason for revocation.
3. Is the gift contract valid?
According to the contract law, the donor gives his property to the donee free of charge, and the donee accepts the gift contract. In other words, as long as one party is willing to give and the other party is willing to get it, the gift contract will take effect.
Legal objectivity:
Article 657 of the Civil Law of People's Republic of China (PRC) is a gift contract in which the donor gives his property to the donee free of charge and the donee expresses his acceptance of the gift. Article 658 of the Civil Code of People's Republic of China (PRC) * * * The donor may revoke the gift before the right to donate the property is transferred. The provisions of the preceding paragraph shall not apply to notarized gift contracts or gift contracts with public welfare nature and moral obligations such as disaster relief, poverty alleviation and disability assistance, which are irrevocable according to law. Article 659 of the Civil Code of People's Republic of China (PRC) If the donated property needs to go through registration or other formalities according to law, it shall go through relevant formalities. Article 660th of the General Principles of Civil Law of People's Republic of China (PRC) * * * If the donor fails to deliver the donated property, the donee may request the delivery of a notarized gift contract or a legally irrevocable gift contract with public welfare nature and moral obligations such as disaster relief, poverty alleviation and disability assistance.