Allegheny College v. National Chautauqua County Bank: Difference between revisions
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In the 1920s, Allegheny College conducted a fundraising drive. | In the 1920s, Allegheny College conducted a fundraising drive. | ||
In 1921, Ms. Johnston promised to have $5,000 out of her estate given to [https://allegheny.edu/ Allegheny College] (College) (plaintiff) after her death in order to create the Mary Yates Johnston Memorial Fund. In 1923, she gave $1,000. In spite of this, in 1924, she [[Anticipatory_repudiation#Repudiation_and_retraction|repudiated]] her promised pledge. | |||
|issues=May [https://scholarships360.org/scholarships/what-is-an-endowed-scholarship/ endowed named college scholarships] from donors form the basis on an enforceable contract? | |issues=May [https://scholarships360.org/scholarships/what-is-an-endowed-scholarship/ endowed named college scholarships] from donors form the basis on an enforceable contract? | ||
|rule=When a charitable subscription is made, and the charity relies on the promise, a promissory estoppel may result from the assumption of duty to apply the fund as a substitute for [[Contracts/Consideration|consideration]]. | |rule=When a charitable subscription is made, and the charity relies on the promise, a promissory estoppel may result from the assumption of duty to apply the fund as a substitute for [[Contracts/Consideration|consideration]]. |
Revision as of 15:05, July 19, 2023
Allegheny College v. National Chautauqua County Bank | |
Court | Court of Appeals of New York |
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Citation | 159 N.E. 173 |
Date decided | 1027 |
Facts
Defendant promised to donate to plaintiff college, and they relied on her promise.
About 90% of college student receive student loans and grants. Some students receive endowed named scholarships from donors.
In the 1920s, Allegheny College conducted a fundraising drive.
In 1921, Ms. Johnston promised to have $5,000 out of her estate given to Allegheny College (College) (plaintiff) after her death in order to create the Mary Yates Johnston Memorial Fund. In 1923, she gave $1,000. In spite of this, in 1924, she repudiated her promised pledge.Issues
May endowed named college scholarships from donors form the basis on an enforceable contract?
Rule
When a charitable subscription is made, and the charity relies on the promise, a promissory estoppel may result from the assumption of duty to apply the fund as a substitute for consideration.