Which Statement Is True Regarding Illusory Promises

question 52

Multiple Choice

Which statement is true regarding illusory promises?

• A) Illusory promises are not consideration.
• B) Illusory promises are consideration.
• C) Illusory promises qualify as consideration only when past consideration is at issue.
• D) Illusory promises qualify as consideration only when promissory estoppel is at issue.
• E) Illusory promises are consideration only when a sale of goods is involved.

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Definitions:

Sampling Method

Techniques or strategies used to select a representative subset of the population for analysis.

Suburban Street

A type of street found in a suburban area, typically characterized by residential homes, lower traffic volumes, and often designed to foster a sense of community.

Population Frame

A list or database containing all elements or individuals in the population to be studied, which serves as a reference for sample selection.

Sampling Plan

A Sampling Plan is a detailed outline that specifies how samples will be taken from a population to represent the whole in statistical analysis or quality assurance processes.