Under Which of the Following Circumstances Would Promissory Estoppel Take

question 11

Multiple Choice

Under which of the following circumstances would promissory estoppel take effect?

• A)Gia's reliance on Alvin's promise was foreseeable.
• B)Gia relied on Alvin's promise which Alvin knew she would do.
• C)Gia relied on Alvin's promise to her detriment and Alvin should have known Gia would rely on it.
• D)Gia relied on Alvin's promise to her detriment.
• E)Alvin knew Gia would rely on his promise.

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Definitions:

Discounted

Refers to the reduction of an item's price or the present value calculations of future cash flows using a discount rate.

Promissory Note

A financial instrument containing a written promise by one party to pay another party a definite sum of money either on demand or at a specified future date.

Promissory Note

A financial instrument involving a written promise by one party to pay another a definite sum of money either on demand or at a specified future date.

Simple Interest

Interest calculated only on the original principal, not on the accumulated interest from previous periods.