Useful. The gift agreement has legal effect after being signed by both parties. The gift contract is a legal act of both parties. When the donor gives a gift, the donee accepts it and makes a gift acceptance, and the gift takes effect. After the signing of the gift contract, the recipient refuses to accept the gift, and the gift is invalid, and the gift contract is also invalid. If a written gift contract is not signed, but the donee accepts the gift, it shall be deemed that the gift contract is established and effective, and the gift is valid. Article 490 of the Civil Code of People's Republic of China (PRC): If the parties conclude a contract in the form of a contract, the contract is concluded when the parties sign, seal or fingerprint it. Before signing, sealing or fingerprinting, one party has fulfilled its main obligations, and the contract is established when the other party accepts it. A contract shall be concluded in written form as stipulated by laws, administrative regulations or agreed by the parties. If the parties do not do this in writing, but one party has fulfilled its main obligations and the other party accepts it, the contract is established.