According to the Doctrine of Promissory Estoppel

question 76

Multiple Choice

According to the doctrine of promissory estoppel:

• A)A promise will be legally enforceable, even if the promisee has not provided consideration, as long as certain requirements are satisfied.
• B)A promise will be enforceable, even where there is no consideration and the promisor did not intend the promisee to rely upon the promise.
• C)A promise will not be legally enforceable solely because it would be unconscionable to require the promisor to keep their promise.
• D)All promises made in a business context will be enforceable even where there is no consideration.

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Definitions:

Economic Behavior

The study of how individuals, institutions, and societies make decisions under constraints of resources, including analysis of market and non-market behaviors.

Normative Statement

An opinion-based statement that reflects beliefs about what is good or desirable and prescribes or recommends specific policies.

Health Insurance

A type of insurance coverage that pays for an individual's medical and surgical expenses.

Efficient Market

A market in which prices fully reflect available information, allowing for optimal allocation of resources.