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A gift contract is the contract on the basis of whom the giver hands over to the recipient or undertakes to hand over a certain thing, or to transfer some other right to him, or to make some benefit at the expense of his property without any compensation.
The essential elements of the gift contract are the object of a gift and the intention to make the gift (animus donandi). The subject of the contract can be movable property, money, firearms, real estate, co-ownership shares in real estate, shares in business companies, rights, etc.
The intention to make the gift presupposes the awareness that, out of charity, the property right or some other right is transferred to another without any compensation. Interest-freeness is an essential element of the gift contract. The intention to make the gift can be based on different motives. Motives can range from the personality of the recipient to general moral and humanitarian reasons. The gift is usually motivated by the personality of the recipient, but it is possible to be concluded regardless of personality characteristics. The cause is particularly important in gift contracts because it represents the donor’s intention to make the gift. The obligation of the recipient is most often reflected in expressing gratitude to the donor.
A gift contract is not a named contract, since it is not regulated by the provisions of the Law of Obligations or other laws. Pre-war regulations, more specifically the Serbian Civil Code from 1844, and based on the Law of Invalidity of Legal Regulations passed before April 6, 1944 and during enemy occupation, apply to this contract.