Which of the Following Statements Is TRUE

question 22

Multiple Choice

Which of the following statements is TRUE?

• A)The courts generally do not require adequate consideration because they believe that each person can look after their own interests by deciding how much to demand under a contract.
• B)Promissory estoppel can be used as a sword but not as a shield.
• C)Consideration is unnecessary as long as the word "seal" was printed on a form that a contractual party read.
• D)Because of the significance of the privity of contract doctrine, exceptions can only be created by the legislature, and not by the courts
• E)Consideration can never consist of a promise to perform a pre-existing obligation.

Comprehend the concept of double-entry accounting and its implications.

Learn the steps for preparing a trial balance correctly.

Understand the differences between low-context and high-context cultures, including how messages are conveyed and interpreted.

Recognize the characteristics of organizations with future orientation and assertion cultures.

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Definitions:

Vase

A vase is a container, often decorative, used to hold cut flowers or as an ornament.

Parties

Social gatherings or events where people interact for entertainment, or organizational entities involved in legal agreements or political contexts.

False Alternative

A logical fallacy that occurs when only limited alternatives are considered, when in fact more options are available.

Dichotomy

A division or contrast between two things that are or are represented as being opposed or entirely different.