Which of the Following Is True of a Promissory Estoppel

question 14

Multiple Choice

Which of the following is true of a promissory estoppel?

• A) It is invoked in cases having option contract infringements.
• B) It permits a court to order enforcement of a contract that lacks consideration.
• C) It allows for a party to claim goods, which were revoked, for which it has already paid consideration.
• D) It is invoked in cases that involve a promissory note to pay considerations at a later time.

Understand the effects of price ceilings and price floors on market outcomes.

Analyze the impact of government subsidies on market prices, quantities, and the distribution of benefits between consumers and producers.

Understand the impact of a tax or subsidy on the selling price of a good and the net price paid by buyers.

Interpret graphical representations of market situations including the effects of various taxes and subsidies.

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Definitions:

Hybrid Systems

Hybrid systems are composed of interconnected networks of digital and analog components that can process both continuous and discrete data, often found in engineering and computing contexts.

Process

A series of actions or steps taken in order to achieve a particular end, especially in the context of business operations or manufacturing.

Job Order Operations

A production system where costs are assigned to specific orders, lots, or batches.

Direct Labor

The financial outlay for remuneration of personnel directly associated with manufacturing products or offering services.