A Contract into Which Both Parties Enter but in Which

question 51

Multiple Choice

A contract into which both parties enter but in which one or both of the parties can choose not to perform their contractual obligations is known as ________.

• A) illusory promise
• B) gift promise
• C) preexisting duty
• D) illegal consideration

---

Definitions:

Offering

Refers to a product or service provided by a business to its customers.

Ability

The possession of the means or skill to do something. In a professional context, it often refers to the competence or proficiency to perform a specific task or role.

Environmental Forces

External factors such as social, economic, political, and technological elements that can affect the operations and success of an organization.

Marketing Activities

Encompasses all actions and strategies employed by a company to promote and sell its products or services.