If You Wish to Have a Direct Voice in the Running

question 45

Multiple Choice

If you wish to have a direct voice in the running of a company, you should purchase

• A) bonds.
• B) notes.
• C) common stock.
• D) preferred stock.

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Definitions:

Promissory Estoppel

A legal principle preventing a party from withdrawing a promise if the other party reasonably relied on that promise and acted upon it to their detriment.

Part Performance

A legal doctrine that allows a court to enforce an otherwise unenforceable contract based on a party's partial completion of the contract terms.

Statute of Frauds

A law requiring certain types of contracts to be in writing and signed to be enforceable.

UCC's Writing

Refers to the requirement under the Uniform Commercial Code that certain contracts, to be enforceable, must be in writing.