Which of the Following Statements Best Describes Charitable Subscription Promises

question 29

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:

Price Inelastic Demand

A situation where the quantity demanded of a good does not change significantly in response to changes in its price.

Luxury

Goods or services that are considered superior in quality and high in price, often seen as status symbols and not essential for basic needs.

Price Elastic

A measure of how the quantity demanded of a good responds to a change in its price.

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The Honda Accord is a model of car manufactured by Honda, known for its reliability, efficiency, and comfort.