A Promise Made in Return for an Act or Event

question 45

True/False

A promise made in return for an act or event that has already taken place is fully enforceable.

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Definitions:

Fixed Assets

Long-term tangible assets that are used in the operations of a business and are not expected to be converted to cash within a year.

Dutch Auction

A method of auction in which the price of the item is reduced until it meets a bid.

Shares

Portions of ownership in a corporation or financial asset.

Dutch Auction

An auction model where the price of the item is lowered until it finds a buyer, commonly used for selling financial securities.