A gift or a present is an item given to someone without the expectation of payment or anything in return. An item is not a gift if that item is already owned by the one to whom it is given. Although gift-giving might involve an expectation of reciprocity, a gift is meant to be free.
What is the purpose of a gift?
Underlying that custom is an important purpose: appreciation. We give people gifts to show them that we are grateful for them and value the role they play in our lives.
What is a personal gift?
Personalized gifts in the traditional sense are gift items that carry either person's full name, first name, surname, monogram or initials on them.
Why Gift giving is important?
Gift giving is an act that can show that you are thankful. Giving and receiving is the purest of reasons to give gifts. The receiver will truly feel your gratitude when you give gifts for elevating happiness and wellbeing. It is important for married couples to remember the day of their anniversary.
When material objects are given as gifts, in many cultures they are traditionally packaged in some manner. For example, in Western culture, gifts are often wrapped in wrapping paper and accompanied by a gift note which may note the occasion, the recipient's name, and the giver's name. In Chinese culture, red wrapping connotes luck.
At common law, for a gift to have legal effect, it was required that there be (1) intent by the donor to give a gift and (2) delivery to the recipient of the item to be given as a gift.
In some countries, certain types of gifts above a certain monetary amount are subject to taxation. For the United States, see Gift tax in the United States.