Examlex
Draw a diagram of the marginal abatement cost curve described by: MAC = 90 - 3E.What is the uncontrolled level of emissions? What is the marginal abatement cost of the 10th unit of abatement? What is the total abatement cost of 10 units of abatement?
Past Consideration
Refers to an act or benefit given in the past that cannot be legally considered as an inducement for a contract.
Illusory Promise
A statement that appears to be a promise but is too vague or lacks the requisite commitment to be legally enforceable as a contract.
Promissory Estoppel
A legal principle that prevents a promisor from arguing that an underlying promise offered should not be legally upheld if the promisee has relied on that promise to their detriment.
Unilateral Contract
A type of contract in which only one party makes a promise to perform in exchange for an act by the other party.
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