In Contracts That Are Not Between Merchants Selling Goods,a Promise

question 24

Multiple Choice

In contracts that are not between merchants selling goods,a promise to keep an offer open for a certain time period must be supported by the offeree's consideration.Such agreement to not revoke an offer is called a(n) ______.

• A) firm offer
• B) option
• C) promissory estoppel
• D) novation
• E) accord

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Definitions:

Individual Deterrence

A principle in criminal justice intended to discourage an individual from committing future offenses through the imposition of penalties.

Significant Effect

A notably large or important impact or influence on a situation, process, or condition.

Utilitarian Philosophy

An ethical theory suggesting that the best action is the one that maximizes utility, usually defined as that which produces the greatest well-being of the greatest number of people.

Preventing Crime

Actions or strategies designed to stop criminal activities before they occur.