Which of the following will be legally binding on all parties despite lack of consideration?
A)An irrevocable oral promise by a merchant to keep an offer open for 60 days.
B)A promise to donate money to a charity,which the charity relied upon in incurring large expenditures.
C)A promise to pay for the college education of the child of a person who saved the promisor's life.
D)A signed modification to a contract to purchase a parcel of land.

Question

Quizplus · Accepted Answer

Promises to make gifts for charitable or educational purposes are often enforced,despite the absence of consideration,when the institution or organization to which the promise was made has acted in reliance on the promised gift.

Which of the Following Will Be Legally Binding on All