Under the Doctrine of Promissory Estoppel, a Promisor May Be

question 47

True/False

Under the doctrine of promissory estoppel, a promisor may be prevented from asserting that his or her promise is unenforceable because the promisee gave no consideration for the promise.

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Definitions:

Straight-Line Depreciation

A strategy for apportioning the price of a concrete asset over its effective life in steady yearly increments.

Initial Investments

Money utilized to start a business venture, purchase significant assets, or make investments to generate future income and profit.

Income Taxes

Taxes levied by the government on income generated by businesses and individuals within its jurisdiction.

After-Tax Discount Rate

The discount rate used in investment appraisal that takes into account the effects of taxes.