The Appalachian Bible College in West Virginia has won an unopposed judgment in its suit to enforce a $400,000 pledge from a corporate donor. The donor had said it was financially unable to meet the commitment. Ralph C. Michael, then president of Foremost Industries, signed a pledge agreement in 2015 committing the corporation to contribute $400,000 in equal installments of $80,000 each on April 1 from 2016 to 2020. Mr. Michael, as president, director and sole shareholder of the company, and Marjorie Michael, also a director, executed a unanimous written consent that ratified the agreement. Michael subsequently sold all of his stock to GLD Foremost Holdings pursuant to a stock purchase...