Which of the Following Is Not a Business Transaction

question 116

Multiple Choice

Which of the following is not a business transaction?

• A) make a sales offer
• B) sell goods for cash
• C) receive cash for services to be rendered later
• D) pay for supplies

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Definitions:

Promissory Estoppel

A legal principle that prevents a party from withdrawing a promise made to another party if the latter has relied on that promise to their detriment.

Stock Option

A financial instrument granting the holder the right, but not the obligation, to buy or sell a stock at an agreed-upon price within a certain period.

Detrimental Reliance

A legal principle where a party suffers harm by relying on a misleading statement or promise of another.

Bargained-for Exchange

A fundamental principle of contract law that involves a mutual exchange of value or promises between parties.