A Gratuitous Promise

question 34

Multiple Choice

A gratuitous promise

• A) is usually enforceable even though it is not given in exchange for consideration.
• B) occurs when one party promises to provide two benefits in exchange for the receipt of one benefit.
• C) is not enforceable even if it is placed under seal.
• D) is a promise that is not given in exchange for consideration.
• E) is enforceable as long as it is supported by love and affection.

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Definitions:

GDP

Gross Domestic Product, a measure of the economic performance of a country, representing the total value of all goods and services produced over a specific time period.

Asset Return

A measure of the earnings generated by an asset over a particular period, often expressed as a percentage of the asset's initial cost.

Government Announcement

Government announcements are official statements or publications made by a government that can impact markets, policy, and public perception.

Risk-Free Rate

The return on investment with no risk of financial loss, often represented by the yield on government bonds.