What Year Was the Reform Party Formed

question 38

Multiple Choice

What year was the Reform Party formed?

• A) 1993
• B) 1867
• C) 1987
• D) 1968
• E) 1949

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Definitions:

Bilateral Contract

An agreement between two parties in which each party commits to performing a specific obligation.

Consideration

In a contractual agreement, it is the value or promise that each party agrees to exchange.

Promissory Estoppel

A legal principle that enables a party to recover on a promise made when they have reasonably relied on that promise to their detriment, even if a formal contract does not exist.

Illusory Contract

An agreement that fails to bind at least one of the parties due to the lack of a definite promise or because the terms allow for withdrawal without consequence.