Which of the Following Is an Element of Promissory Estoppel

question 25

Multiple Choice

Which of the following is an element of promissory estoppel?

• A)The promisee should reasonably expect to induce reliance
• B)Reliance on the promise by the promisor
• C)A promise to pay liquidated debts
• D)Injustice to the promisee as a result of reliance

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Definitions:

Margarine

A spread used as a substitute for butter, made from vegetable oils or animal fats.

Producer Surplus

The difference between what producers are willing to sell a good for and the price they actually receive.

Price

The amount of money exchanged for a product or service, reflecting its value in a particular market.

Area Representation

The method of visually or mathematically depicting defined spaces or regions to convey information or data related to them.