Examlex
At the interest rate r, the price of a depletable natural resource three years from the present (price in present = P) will be, everything else being equal, which of the following?
Unilateral Contract
A contract where only one party makes a promise or undertakes a performance without requiring a reciprocal agreement from the other party.
Consideration
In contract law, consideration refers to something of value exchanged between parties, forming the basis for a contract.
Promissory Estoppel
A rule in law that prohibits an individual from retracting a pledge given to another if the latter has justifiably depended on this assurance to their harm.
Quasi Estoppel
A legal doctrine preventing a party from asserting rights or facts that contradict their past actions or statements.
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