UAE Civil Transactions Law

Article 553

Book Two: Nominate Contracts · Section One: Contracts of Transfer of Ownership · Chapter Three: Gift Contract · Part One: Definition and Conditions of the Gift Contract

1. If the donor stipulates a consideration from the donee, the contract shall be a commutative contract to which the provisions governing commutative contracts shall apply, according to the nature of the consideration. 2. The consideration in a gift subject to consideration shall be known, otherwise either party may rescind the contract, even after the donee has taken possession of the gifted property, unless the parties agree on specifying the consideration before rescission. 3. If the gifted property perishes or is disposed of by the donee before rescission, the donee shall be bound to return its value as of the date of taking possession.

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