Under Which of the Following Conditions Can One Convert a Gift

question 16

Multiple Choice

Under which of the following conditions can one convert a gift promise into an enforceable promise?

• A) if the promisee offers a consideration
• B) if the promisor offers a consideration
• C) if the promisee receives a legal benefit
• D) if the promisor suffers a legal detriment

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Definitions:

Cable TV

A system of delivering television programming via coaxial cables to subscribers, offering a variety of channels and services.

Average Total Cost

The total cost divided by the number of units produced, representing the cost per unit of output.

Demand Curve

A graph showing the relationship between the quantity of a good that consumers are willing to buy and the price of the good.

Natural Monopolies

Industries or markets in which the production or supply of a good or service is most cost-effective when there is a single provider, due to high infrastructure or entry costs.