Legal question regarding gift money?

Question

I received a check as a gift, but a few days later, payment was stopped on the check. Am I entitled to the money?

Answer 1

This is a classic law school contracts question. It deals squarely with two legal issues: offer and acceptance.

Generally, the offer of a gift becomes binding on the offeror upon acceptance of that gift by the offeree. Why is this? Because in some cases--though not many--the offeree rejects the gift (i.e. does it create a tax situation?). Therefore, it becomes binding ONLY upon acceptance.

Here the offer was manifest by the writing of a check and could be accepted only by cashing or depositing in an account. Since the offer was rescinded before the offeree could accept it, there was no offer and hence, no agreement. You are not entitled to the money.

Answer 2

A check is a legally binding document. The only legal reason to stop payment is some form of fraud. Practically, I could argue you were never 'entitled' to begin with.

Answer 3

It sounds as thought the donor changed their mind. It cost about $35.00 to stop payment, so they probably thought they had a good reason. I don't think you can do anything about this situation, except forget it happened.

Answer 4

No. Obviously the person who sent you the gift changed his mind.

Answer 5

Yes. A check is a promissary note.

Answer 6

Guess not