I. & I. Holding Corp. v. Gainsburg

Subscriptions to a charitable corporation are enforceable only if the charitable corporation gives some consideration for the promise to pay, or was induced, by the promise, to perform some act which it would otherwise not have performed. (Matter of Taylor, 251 N. Y. 257.) Though the doctrine of consideration is not applied “ in all its ancient rigor ” to charitable subscriptions, yet the question in each case still is whether the enforcement of the charitable subscription “ can be squared with the doctrine of consideration as qualified by the doctrine of promissory estoppel.” (Allegheny…