Which Case Held That a Promise on the Part of the Defendant

question 24

Short Answer

Which case held that a promise on the part of the defendant did not have to be irrevocable?

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Definitions:

Additional Working Capital

Extra funds that a company requires to finance its day-to-day operations beyond its current working capital.

Salvage Value

The evaluated resale price of an asset after its lifespan of usefulness.

Straight-Line Method

A depreciation technique where an asset loses an equal amount of value each year over its useful life.

Payback Period

The duration needed to recoup the expenses of an investment.