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:

Aggression

Conduct aimed at causing pain or fear in others, manifested through either physical aggression or verbal assaults.

Positive Correlation

A relationship between two variables where an increase in one variable is associated with an increase in the other variable.

Independent Variable

In an experiment, a factor or condition that is deliberately manipulated to determine whether it causes any change in another behavior or condition.

Coefficient of Correlation

A statistical measure that calculates the strength and direction of a linear relationship between two variables, ranging from -1 to 1.