Twenty years after you leave college you are rich and famous. Your college calls on you for a $5 million gift to renovate a classroom building and name the building in your honor. You tell them you will be glad to give the gift because you learned so much and that is why you are successful. A year later the building is renovated and the college asks for the money. You decide to spend it on a new
jet and tell the college to get stuffed. You:
a. do not have to pay the money, promises of gifts do not create contracts
b. do not have to pay the money unless your promise was in writing and for a specific date
c. have to pay an amount equal to how much has been spent on the renovation work to date, not the full amount d. have to pay the money under the rule of unliquidated debt
e. probably none of the other choices
e
You might also like to view...
Which of the following is most likely to be a valid reason for initiating a price increase?
A) anticipated cost inflation B) excess plant capacity C) a drive to dominate the market D) a low-cost strategy E) a market share objective
What approach is often most effective when the audience is not expecting a proposal?
A) Sales proposal B) Persuasive approach C) RFP D) Direct approach E) Indirect approach
Which of the following best describes the role of the executive summary in a formal report?
A) ?The executive summary aids the reader in locating a specific graphic in a report with many graphics. B) ?The executive summary lists alphabetically the sources used in preparing the report. C) ?The executive summary provides the reader with the order in which information is presented. D) ?The executive summary outlines the essential elements in the entire report.
Which of the following statements is an example of resale in the closing paragraph of a bad-news message?
A) The product you ordered is no longer in stock. B) You chose our best-selling model. C) ?We are happy to send you an alternative product. D) Because we are out of the product you ordered, we are referring you to our competitor.