The Development of Promissory Estoppel Means That Consideration Is No

question 5

True/False

The development of promissory estoppel means that consideration is no longer required for contract variation.

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Definitions:

Taxable Income

Taxable income is the amount of an individual's or business's income used to calculate how much tax they owe to the government in a given tax year, after all deductions and exemptions.

Tax Cutters

Advocates or policies aimed at reducing the level of taxation.

Social Security Tax

A tax levied on both employers and employees to fund the Social Security program, which provides retirement, disability, and survivorship benefits to qualifying individuals.

Medicare Tax

A payroll tax that funds Medicare, providing health insurance to individuals aged 65 and older in the United States.