Gifts

A gift or a present is an item given to someone without the expectation of payment. An item is not a gift, if that item, itself, 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. In many countries, the act of mutually exchanging money, goods, etc. may sustain social relations and contribute to social cohesion. Economists have elaborated the economics of gift-giving into the notion of a gift economy. By extension the term gift can refer to anything that makes the other happier or less sad, especially as a favor, including forgiveness and kindness. Gifts are also first and foremost presented on occasions - birthdays and, in Western cultures, Christmas being the main examples and other occasions like birthdays.

In many cultures gifts are traditionally packaged in some way. For example, in Western cultures, 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. Although inexpensive gifts are common among colleagues, associates and acquaintances, expensive or amorous gifts are considered more appropriate among close friends, romantic interests or relatives.

Gift giving occasions may be:

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.

In some contexts, gift giving can be construed as bribery. This tends to occur in situations where the gift is given with an implicit or explicit agreement between the giver of the gift and its receiver that some type of service will be rendered (often outside of normal legitimate methods) because of the gift. Some groups, such as government workers, may have strict rules concerning gift giving and receiving so as to avoid the appearance of impropriety.

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