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Which of the Following Markets Involve Direct Two-Party Negotiations Over

question 61

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Which of the following markets involve direct two-party negotiations over illiquid, nonstandardized contracts such as bank loans and direct placement of debt?


Definitions:

Promissory Estoppel

A legal principle that prevents a party from withdrawing a promise made to a second party if the latter has reasonably relied on that promise to their detriment.

Promisee

The party in a contract who is to receive the benefit or performance specified in the agreement.

Promise

A declaration or assurance that one will do something or that a particular thing will happen.

Offer

A proposal by one party to another to enter into a legally binding contract with specific terms.

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