Definition of gift made in contemplation of death
Interestingly it is the Indian Succession Act which defines this term.
Section 191 stipulates:-
191. Property transferable by gift made in contemplation of death.-
(1) A man may dispose, by gift made in contemplation of death, of any moveable property which he could dispose of by will.
(2) A gift is said to be made in contemplation of death where a man, who is ill and expects to die shortly of his illness, delivers, to another the possession of any moveable property to keep as a gift in case the donor shall die of that illness.
(3) Such a gift may be resumed by the giver; and shall not take effect if he recovers from the illness during which it was made; nor if he survives the person to whom it was made.
Can a donor who made a gift in contemplation of death, get back the gift if he does not die ?.
In Legal Terms for The Genealogist , this example is given.
Ferdinand Bullard took to his sick bed with pneumonia as diagnosed by his doctor. He was sure that he was going to die and told his good buddy Hershel that he could have his shot gun. Hershel took the gun home with him. Ferdy miraculously survived and wanted his gun back. Hershel said, "Go fly a kite." Ferdy went to see his lawyer instead and got his gun back. Since he had not died, the gift was revoked.