Alvin Promised Gia That If She Quit Her Job in California

question 3

Multiple Choice

Alvin promised Gia that if she quit her job in California and moved to New York, he would have a job for her. Gia sells everything and moves to New York. Alvin however does not hire Gia to work. Under which of the following circumstances would promissory estoppel take effect?

• A) Gia relied on Alvin's promise to her detriment and Alvin should have known Gia would rely on it.
• B) Gia relied on Alvin's promise to her detriment.
• C) Gia's reliance on Alvin's promise was foreseeable.
• D) Alvin knew Gia would rely on his promise.
• E) Gia relied on Alvin's promise which Alvin knew she would do.

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Definitions:

Market Value

The present cost at which a good or service is available for purchase or sale in a marketplace.

Offer

A proposal by a party to enter into a contract with another party, specifying the terms by which they are willing to engage in a transaction.

Business Entity Concept

An accounting principle that treats a company as an entity separate from its owners or shareholders for recording and reporting purposes.

Economic Unit

An individual, company, or country engaging in economic activities, considered as a single entity in analyses.