Beth is a wealthy widow. She promises the pastor of her church that she will donate $100,000 to the church to help pay off its mortgage, if the stewardship committee can obtain enough pledges for the balance of the $300,000 mortgage. The stewardship committee has meetings to prepare for the campaign and spends $3,000 on printing to publicize the "Mortgage Burning Campaign." Many pledges are
obtained to pay off the mortgage, but now Beth has changed her mind and plans to take a world cruise instead. Which of the following statements is correct?
a. There is no consideration for Beth's promise to donate $100,000 . It was a promise to make a gift and gift promises can never be made enforceable in a court of law.
b. Beth's promise falls under the common law doctrine that promises made to satisfy a preexisting moral obligation are generally unenforceable.
c. The court makes gratuitous promises enforceable to the extent necessary to avoid injustice. In this case, Beth's subscription has induced a change of position by the promisee (the church) in reliance on the promise.
d. According to the Restatement, Beth's promise is not enforceable.
c
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The rivalry between Dell, Hewlett-Packard, Gateway, Compaq, and Apple forces all the players to undertake all of the following except:
A) develop new products. B) improve existing products. C) lower costs and prices. D) develop new technologies. E) change the rules of engagement.
The amount of money invested in a financial security or deposited into a financial intermediary is referred to as the
A. principal. B. interest. C. yield. D. capital-gain.
Traditionally, customers have had three specific worries about product service. What are they?
What will be an ideal response?