Business MCQ
Business Law Chapter 12
Pastor Sam was employed by the First Church for 40 years. On Pastor Sam's retirement there was no adequate pension plan. Two months after the retirement, a wealthy parishioner, in consideration for Pastor Sam's 40 years of faithful service and for being such a "sweet" man, promised to pay him $500 per month for the rest of his life. This promise is:
Pastor Sam was employed by the First Church for 40 years. On Pastor Sam's retirement there was no adequate pension plan. Two months after the retirement, a wealthy parishioner, in consideration for Pastor Sam's 40 years of faithful service and for being such a "sweet" man, promised to pay him $500 per month for the rest of his life. This promise is:
Pastor Sam was employed by the First Church for 40 years. On Pastor Sam's retirement there was no adequate pension plan. Two months after the retirement, a wealthy parishioner, in consideration for Pastor Sam's 40 years of faithful service and for being such a "sweet" man, promised to pay him $500 per month for the rest of his life. This promise is:
a. a forbearance.
b. not enforceable.
c. illegal.
d. void.
Answer: B
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