Which of the Following Charitable Pledges Will Be Sufficient to Find

question 7

Multiple Choice

Which of the following charitable pledges will be sufficient to find consideration on the part of the recipient?

• A) A $100 pledge made via telephone.
• B) A $100 pledge made via a website.
• C) A $500 pledge made via a mail in response card.
• D) A $4,000 pledge made in a meeting with the recipient.
• E) None of these amounts are sufficient.

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Definitions:

Technologically Obsolete

A state in which a product, service, or method has become outdated due to advances in technology, making it less efficient or desirable compared to newer options.

Numerically Controlled

Pertaining to machines or processes that are operated by precise instructions coded in the form of numbers.

Simple Rate

Refers to a basic or straightforward percentage that does not involve compounding over time, typically in finance.

Salvage Value

Salvage value is the estimated residual value of an asset after it has reached the end of its useful life and is no longer useful for its original purpose.