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Beth owned an original U.S. flag. She had previously loaned the flag to Ross, a lawyer, so that he could display the flag on the wall behind his office desk. One day while visiting Ross in his office and admiring the flag, Beth said to Ross, "You are so fond of that flag, I would like you to have it!" Ross responded with a gracious "thank you." In this situation

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Explanation:

           In the given context, Beth owns a United States national flag but loaned the flog to one of his close friend, Ross. Ross was very fond of the flag and displayed the flag on the wall at the back of is desk. Thus Beth seeing this, wanted to gift the flag to Ross. Beth made a valid and binding gift to Ross by transferring the ownership of the flag to Ross. And Ross gracefully accepted the ownership.

           In property law, a gift is when one person transfer the ownership of a property to the other person without considering the full valuable.

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