Hal Promises Not to Foreclose on a Mortgage That He

question 54

Multiple Choice

Hal promises not to foreclose on a mortgage that he holds on an office complex that Christopher owns.In reliance on this promise, Christopher spends $200,000 to remodel the complex.Which of the following is correct with regard to Hal's promise?

• A) Hal's promise not to foreclose is unsupported by consideration.
• B) Hal's promise is noncontractual.
• C) Hal's promise may be enforced against him based upon the doctrine of promissory estoppel.
• D) All of these.

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Definitions:

Prospective Customer

is an individual or organization potentially interested in purchasing a company's products or services, often targeted in marketing efforts.

Physicality

Physicality refers to the physical presence or aspects of something, often highlighting the tangible, sensory qualities.

Education

The systematic instruction, schooling, or training given to individuals to impart knowledge, develop skills, and foster attitudes and behaviors.

SELL Sequence

An acronym for Show, Explain, Lead-in, and Lock-up, representing a series of steps a salesperson can use to guide a sales conversation towards a successful conclusion.