A gift or a present is the transfer of something, without the need for compensation that is involved in trade. A gift is a voluntary act which does not require anything in return. Even though it involves possibly a social expectation of reciprocity, or a return in the form of prestige or power, a gift is meant to be free. In many human societies, the act of mutually exchanging money, goods, etc. may 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 favour, including forgiveness and kindness. A gift or a present is the transfer of something, without the need for compensation that is involved in trade. A gift is a voluntary act which does not require anything in return. Even though it involves possibly a social expectation of reciprocity, or a return in the form of prestige or power, a gift is meant to be free. In many human societies, the act of mutually exchanging money, goods, etc. may 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 favour, including forgiveness and kindness Legal aspects of gifts Main article: Gift (law) 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 donee 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. Gifts may also be from a wealthy person, hoping that someone will reflect their largess. Find the perfect gift online. 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Gift baskets for occasions Sometimes, a gift basket will have a theme, such as Christmas, graduation, birthday, anniversary, baby shower, housewarming, or Valentine's Day. A basket can be made to suit the recipients' needs, such as diabetic, vegan/vegetarian, or gluten intolerance. Common gift basket contents Perishables * Apple * Artichoke * Avocado * Banana * Cheese * Grapes * Lychee * Mango * Orange * Papaya * Pineapple * Pomegranate * Strawberry Dry, Canned or Bottled Goods * Bread * Champagne * Chocolate * Coffee * Crackers * Honey * Jam/Marmalade * Liqueur * Nuts * Sparkling Beverage or Soft drinks * Tea * Wine Non-edibles * Cash * Cut flowers * Plants * Promotional Merchandise * Stuffed animal