Why Do Courts Generally Not Enforce a Promise to Make

question 4

Essay

Why do courts generally not enforce a promise to make a gift? Doesn't this encourage persons to make such promises when they don't intend to actually make the gift? Isn't it wrong to make a promise and break it? Should courts enforce gift promises?

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Definitions:

Unit Product Cost

The total cost associated with creating one unit of product, including materials, labor, and overhead.

Variable Costing

An accounting method where only the variable production costs are allocated to the product, while fixed costs are treated as period costs.

Net Operating Income

The total income from operations of a company before taxes and interest deductions.

Variable Costing

An accounting strategy that only accounts for variable production expenditures (direct materials, direct labor, and variable manufacturing overhead) in product pricing.