Which of the Following Statements Best Describes Charitable Subscription Promises

question 8

Multiple Choice

Which of the following statements best describes charitable subscription promises?

• A) They are generally not enforceable.
• B) They are equated by the law with gifts.
• C) They are generally enforceable if there is reliance or a probability of reliance by the charity.
• D) Courts generally find that it would be unjust to enforce them because persons who promise charitable subscriptions do not expect to be held accountable for them.

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Definitions:

MC (Marginal Cost)

The additional cost incurred in producing one more unit of a good or service.

Downward-Sloping Demand

A representation of the relationship between price and quantity demanded, indicating that as price decreases, demand increases.

Reasonable Substitutes

Alternative products or services that can satisfactorily replace others, meeting the same needs or wants.