Completed gift: Definition, Example and Related Terms
What is a Completed gift ?
A 'Completed Gift' is a term used when a gift has been fully given and accepted by the recipient. Imagine it like this: you've bought a toy for your friend's birthday, you've wrapped it up nicely, and you've given it to your friend at their birthday party. They've unwrapped it, said thank you, and started playing with it. That gift is now a 'completed gift' because you've given it and they've accepted it. It's now their toy, not yours, and you can't take it back.
Example(s)
Situation Example of Completed Gift Birthday party You give your friend a new video game for their birthday. They open it and start playing it. This is a completed gift. Christmas Your parents give you a new bike for Christmas. You start riding it around the neighborhood. This is a completed gift. Graduation Your aunt gives you a laptop for graduation. You start using it for college. This is a completed gift.