Although Based on Physical Traits Like Skin Colour, the Concept

question 58

True/False

Although based on physical traits like skin colour, the concept of "race" is constructed by society.

Comprehend the doctrine of promissory estoppel and its requirements.

Grasp the concept of consideration and its significance in contract validity.

Identify factors that can terminate an offer or make contracts voidable or void.

Differentiate between contracts, gifts, and the role of consideration in distinguishing them.

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Definitions:

Counteroffer

A response to an offer in a negotiation, where the original offer is rejected and a new offer is presented.

Original Offer

The initial proposal or bid made in a negotiation or business agreement.

Reasonable Means

Methods or procedures that are practical and sensible, often used to achieve a certain outcome with minimal resources.

Unilateral Contract

A type of contract where only one party makes a promise to perform in exchange for an act by the other party.