In May of 2005, the Virginia Museum of Fine Art ("VMFA") announced that collectors James W. and Frances G. McGlothlin intend to bequeath their collection of American realist art. The bequest is valued at $100 million, and includes 33 American paintings, drawings and watercolors as well as a new wing for the museum. However, what happens if the McGlothlins change their mind? Is there any way for the VMFA, or any museum in Virginia, to improve the enforceability of charitable pledges of works of art?
Who's Afraid of Promissory Estoppel: Charitable Giving in Virginia and the Enforceability of Promised Gifts,
Rich. J. L. & Pub. Int.
Available at: http://scholarship.richmond.edu/pilr/vol10/iss1/4