Examlex
Match the definition to the term.
-formal operations stage
Charitable Purpose
involves activities carried out for the benefit of the public, such as alleviating poverty, advancing education, religion, or other activities serving the public interest.
Promised Gift
A commitment to transfer ownership of an item or property to someone else without expecting something in return.
Consideration
A value promised in a contract that each party agrees to exchange, which is necessary for a valid agreement.
Liquidated Debts
Debts for which the amount owed is known and agreed upon by all parties involved.
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