A gift of property to be valid, in any case, must be by actual delivery and acceptance of the thing given.25 The law will however, presume acceptance of a beneficial gift where the recipient is unable because of lunacy or infancy to make an acceptance.26 The actual delivery and acceptance of the goods, on the other hand is not necessary to the validity of a sale unless they are specially made a part of the terms of the contract. With gifts, delivery, is an all necessary element, and even where goods have been turned over to another with instructions to deliver to adonee named. The owner may recall the gift before delivery is actually made to the donee.27

A gift of property being without consideration of a valuable nature, cannot be made if the donor thereby divests himself of property, in a way that would prejudice the rights of his creditors, while a bona fide sale may always be made notwithstanding the vendor was greatly in debt, and the property sold constituted the greater part of the debtor's assets.

23 Fish vs. Benedict, 74 N. Y., 613.

24 Cole vs. Mann, 62 N. Y., 1.

25 Mahan vs. U. S., 16 Wall., 143. 26 Rinker vs. Rinker, 20 Ind., 185.

27 Picot vs. Johnson, 14 I11., 342; see also Pinkslay vs. Starr, 149 N. Y., 432.