Which of the Following Promises Does Not Have to Be

question 13

Multiple Choice

Which of the following promises does not have to be evidenced by a writing in order to be enforceable?

• A)Jones's agreement with Smith to sell his condominium for $100,000.
• B)Stewart's promise to work for Austin for a two-year period.
• C)Dad's promise to the credit union that he will make payments on his son's truck.
• D)Mindy's agreement with Susan to buy her bike for $400.

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Definitions:

Variable Cost

Costs that change directly and proportionally with the level of production output or sales volume.

Nonprofit Organization

An organization that operates for educational, charitable, social, religious, or other activities serving the public interest or common good, without the goal of making profits for owners or shareholders.

Break-Even Level

The point at which total revenues equal total expenses, resulting in neither profit nor loss.

Variable Cost

Costs that vary directly with the level of production or sales volume, such as raw materials and packaging.