Which of the Following Promises Does Not Have to Be

question 22

Multiple Choice

Which of the following promises does not have to be evidenced by writing in order to be enforceable?

• A)Jones' agreement with Smith to sell his condominium for $100,000
• B)Stewart's promise to work for Austin for a two-year period
• C)Dad's promise to the credit union that he will make payments on his son's truck if his son does not pay
• D)Mindy's agreement with Susan to buy her bike for $400

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Definitions:

Economic Growth

An increase in the amount of goods and services produced per head of the population over a period of time, often measured as the percentage increase in real GDP.

Tax Rates

The percentage at which an individual or corporation is taxed, which can vary depending on income level, type of good or service, and other factors.

Laffer Curve

An economic theory suggesting there exists an optimal tax rate that maximizes government revenue without discouraging people from working or investing.

Tax Rate

The percentage at which an individual or corporation is taxed.