Indicate Which of the Following Statements Is Correct About the Effect

question 111

Multiple Choice

Indicate which of the following statements is correct about the effect of promissory estoppel on a promisor.

• A) Promissory estoppel has no effect on a promisor because it only relates to statements of fact, not promises.
• B) Promissory estoppel must be distinguished from equitable estoppel.
• C) Promissory estoppel can be used as a defence only against a promisor who reneges on his promise.
• D) Promissory estoppel is known as injurious reliance in the United States and has the same effect in both American and Canadian law.
• E) When a victim relies on the promise and suffers injury, he can sue the promisor for compensation even where no consideration has been given in return for that promise.

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Definitions:

Nonrenewable Natural Resources

Natural resources that do not replenish at a sustainable rate within a human lifetime, such as fossil fuels, minerals, and metals.

Productive Inputs

The resources used in the production of goods and services, including labor, capital, and raw materials.

Biodiesel

A renewable, bio-based fuel that is produced from vegetable oils, animal fats, or recycled greases, suitable for use in diesel engines.

Economically Viable

A state or condition in which an activity or entity is capable of generating enough income to cover its expenses, sustainably over time.