Contracts: consideration.

Existing law requires that for a contract to be enforceable it be lawful, the parties have the capacity to contract and provide consent, and for sufficient consideration to be provided. Existing federal law provides that charitable contributions made to a tax-exempt charitable organization are tax deductible. This bill would provide that a promise to make a gift, bequest, or devise of cash or other property to a tax-exempt charitable organization would be an enforceable contract without consideration, if the promisor indicated in writing an intent that the promise is a binding legal obligation.