An Oral Contract May Be Enforceable If Enforcing the Promise

question 41

True/False

An oral contract may be enforceable if enforcing the promise is the only way to avoid injustice.

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Definitions:

Economic Change

Alterations in the economic conditions or environment, such as growth, recession, inflation, or changes in market demand.

Market Opportunities

Refers to favorable external factors that could help an organization to grow its market share.

Income and Wealth

Income refers to the flow of money received, typically on a regular basis, while wealth represents the accumulation of valuable resources or assets.

Cost Control

The practice of managing and monitoring expenses to keep them within the defined budget, ensuring that a project or operation remains financially viable.