This Occurs When a Party Takes Action in Reliance on the Promise

question 23

Multiple Choice

This occurs when a party takes action in reliance on the promise of another,who then breaks that promise.

• A)promissory estoppel
• B)intentional interference with a contractual relationship
• C)retaliation for an act supporting public policy
• D)none of these

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Definitions:

Sale of Equipment

A transaction involving the disposal of machinery or other equipment used in business operations, typically recorded as a gain or loss.

Trademark

A symbol, word, or phrase legally registered or established by use as representing a company or product.

Intangible Assets

Assets that lack physical substance and represent economic benefits, such as patents, copyrights, and brand recognition.

Fixed Assets

Long-term assets bought for use in the operation of a business, not intended for resale, such as machinery, buildings, and vehicles.