________ Is an Equitable Doctrine That Permits Enforcement of Oral

question 26

Multiple Choice

________ is an equitable doctrine that permits enforcement of oral contracts that should have been in writing.

• A) Promissory estoppel
• B) Merger clause
• C) Main purpose exception
• D) Leading object exception

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Definitions:

Accounts Receivable

Money owed to a business by its clients or customers for goods or services delivered but not yet paid for.

Credit Sales

Transactions where goods or services are sold and delivered, but payment is deferred to a later date, creating receivables for the seller.

Factors Receivables

The process of selling accounts receivable to a third party (factor) at a discount in exchange for immediate cash.