A Store Indicates to a Produce Seller, "If You Ship

question 86

Multiple Choice

A store indicates to a produce seller, "If you ship me those oranges by Friday, I will consider making you my sole supplier." This agreement is:

• A) enforceable because of past consideration.
• B) enforceable because it is a preexisting duty.
• C) unenforceable because of past consideration.
• D) unenforceable because of an illusory promise.
• E) unenforceable under promissory estoppel.

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Definitions:

Deposit

A sum of money placed or kept in a bank account, often to gain interest.

Balance

Balance refers to the amount of money in a financial account, or the equality between the sum of debits and credits in an account.

Account

A record or statement of financial expenditure and receipts relating to a particular period or purpose or the contractual arrangement under which an entity manages the funds of another.

Collection Float

The delay between when a check is deposited into a bank account and when the funds are available to the depositor, affecting cash flow.