Which of the Following Statements Is True of the External

question 22

Multiple Choice

Which of the following statements is true of the external environment?

• A) It provides competition for resources and power.
• B) It influences the attitudes of people.
• C) It affects working conditions.
• D) All of the above.

Identify the characteristics and enforceability of unilateral and bilateral contracts, including the requirement of consideration.

Recognize the impact and legal significance of the preexisting duty rule in contract modifications.

Discern when a promissory estoppel claim can be validly invoked in contractual disputes.

Analyze the conditions under which a contract can be considered breached, with a focus on agreements relating to sales, services, and debts.

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Definitions:

Knowingly Misled

The act of intentionally providing false or misleading information with the awareness that it could deceive others.

Privity of Contract

The principle that a contract is a private agreement between the parties involved and no one else.

Statutory Assignment

A legal transfer of a right or interest under a statute, allowing the assignee to enforce it.

Novation

The act of replacing an old obligation with a new one, thereby extinguishing the original obligation.