Michael Kelsey and Alison Taylor, both residents of Ontario, started dating on December 15, 2022. The sparks started to fly on their first date, when Michael took Alison out of the woods to the willows, as they rode white horses on Coney Island, which were Alison's favourite thing to do. Alison was impressed that Michael was gorgeous, fearless, and that the man had charisma and style and told him that day was a fairytale. The new romantics love blossomed as the starstruck lovers grew inseparable and it was beginning to look like their relationship was end game. Almost a year later, on December 13, 2023 (which is Alison's birthday), Michael took Alison to one of her favourite restaurants, Blank Space. During dessert, while Alison's favourite singer, Tim McGraw was singing "Our Song", Michael reached into his maroon-red cardigan and presented Alison with a small, delicately wrapped gift. Alison assumed it was her birthday gift, but she wasn't ready for it to turn out to be much more than that. She was overjoyed with the beautiful diamond ring Michael had chosen for her. Michael then got down on one knee and told Alison that never in his wildest dreams would he have thought he would have found someone as perfect as her and that everything had changed for him since she came into his life, thinking back to December 2022 and that first date and now he wants to begin again with her before asking her to marry him. As Alison said yes and cried tears of joy and excitement, struggling to keep her eyes open, Michael placed the ring on her finger. Alison and Michael began to plan their wedding, which they were hoping would be a destination wedding in the fall of 2024. Unfortunately, the love story turned from mad love to bad blood a fortnight ago, kicking off a cruel summer for the couple. Michael went from hero to anti-hero as was caught cheating with another woman, Kayla Maya Hall. When Alison confronted him about his illicit affairs, he admitted he had been unfaithful with both Kayla and Betty Ronan. Alison was devastated and broke off their engagement, shouting that she should have said no because she knew he was trouble when she saw him. She made it clear to Michael that they are never ever getting back together amidst his philandering ways. Michael, while disappointed in himself, is in financial difficulty and needs to shake off his debt. He came out of exile in a lavender haze following the break-up and now wants to revoke or set aside the gift. He has asked Alison to return the ring, which he says was a gift given in contemplation of marriage. Alison thinks he is being mean and that she is entitled to keep the ring and has refused to return it. She claims it was a birthday gift and that since Michael's adultery caused her to end the engagement, it is karma he doesn't get it back, and because he is at fault, she therefore does not have to return the gift. Michael wants to start an action in Small Claims Court to recover the diamond ring, which he bought for $27,000. Assume that you are a licensed paralegal and Michael is seeking your (or your firm's) advice on this Small Claims Court matter.

In ontario under property law act: State the name and citation of the statute (and regulation if applicable) that is relevant to the issue(s) you identified and provide the text of the relevant provision(s). (Copy the text exactly as it appears in the statute/regulation.)