An Oral Contract May Be Enforceable If There Is No

question 44

True/False

An oral contract may be enforceable if there is no way to avoid injustice except to enforce the promise.

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Definitions:

Subjective Benefits

Advantages or value perceived by individuals in a subjective manner, sometimes difficult to quantify, like job satisfaction or brand loyalty.

Quantified Biases

The attempt to measure and express cognitive biases and their impact on decision-making or behavior in numerical terms.

Accelerated Depreciation

A depreciation technique where an asset's book value diminishes more quickly than it does with the conventional straight-line approach.

Half-Year Convention

An accounting method used for depreciating assets by which all assets acquired during the year are considered to have been acquired at the midpoint of the fiscal year, affecting the depreciation calculation.