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You have to engage in whatever fundraising efforts are necessary to obtain the first $100. In this case, we both value progress in the philanthropic endeavor,
by mac01021 7y ago
You have to engage in whatever fundraising efforts are necessary to obtain the first $100.
In this case, we both value progress in the philanthropic endeavor, so we make a contract: "if you generate $100 of investment in the endeavor for me, then I will invest $100 in the endeavor for you."
- thaumasiotes 7y agoI am pretty confident such a contract would be legally defective and unenforceable in those terms. You raising money for yourself is not consideration that I receive, regardless of whether I think it's a good thing.
- Sambdala 7y agoIANAL, but Promissory Estoppel might apply here?
- sandworm101 7y agoThe contract is also between the donor and other donors that give on the belief that thier donations will be matched. Because of the promise (offer) they do something they otherwise would do (consideration). And they accept by giving the money.
- privateSFacct 7y agoReliance has been used to enforce pledges