An Illusory Promise Is an Example of a Contract That

question 31

True/False

An illusory promise is an example of a contract that lacks consideration.

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Definitions:

Initial Public Offering (IPO)

The process by which a private company offers its shares to the public in a new stock issuance, allowing it to raise capital from public investors.

SEC Regulations

are rules and regulations enacted by the U.S. Securities and Exchange Commission to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation.

Legal Costs

Expenses associated with legal advice, representation, or litigation, including attorney fees, court costs, and other related charges.

Investment Capital

Funds allocated by investors to purchase shares, assets, or property with the expectation of achieving a profit or receiving future financial returns.