The Equitable Doctrine of _____ Allows Some Parties to Recover

question 21

Multiple Choice

The equitable doctrine of _____ allows some parties to recover under oral contracts which the statute of frauds would have ordinarily rendered unenforceable.

• A)estoppel by convention
• B)equitable estoppel
• C)proprietary estoppel
• D)promissory estoppel

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Definitions:

Progressive Rate Structure

A tax system where the tax rate increases as the taxable amount increases, resulting in those with higher incomes paying a higher rate of tax on their income.

Federal Income Tax

A tax levied by the U.S. government on the annual earnings of individuals, corporations, trusts, and other legal entities, based on their income levels.

Marginal Tax Rate

The percentage of tax applied to your income for each tax bracket in which you qualify.

Taxable Income

The portion of income that is subject to income tax after all deductions, exemptions, and credits are considered.