This Is a Formal, Written Document That States the Mutual

question 11

Multiple Choice

This is a formal, written document that states the mutual understandings of the donor and the organization.

• A) Gift agreement
• B) Gift standards chart
• C) Bequest
• D) Case statement

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Definitions:

Liability Cases

Legal disputes where one party is seeking damages or remediation from another party for wrongful acts or negligence.

Liability Policy

An insurance policy that provides coverage for legal claims against the insured, typically covering bodily injury and property damage to third parties.

Legally Obligated

Binding under law or contract, requiring a party to act or refrain from acting in a specified manner.

Coinsurance Costs

Expenses that are not fully covered by insurance and must be shared between the insurer and the insured, typically as a percentage.