What Was the Reason for the Decision in the Case

question 31

Multiple Choice

What was the reason for the decision in the case of De Lassalle v Guildford [1901] 2 KB 215?

• A) The oral statement was representational rather than promissory.
• B) The oral statement was inconsistent with the terms of the written document.
• C) The oral statement was intended to form part of the agreement between the parties.
• D) The oral statement was promissory and therefore enforceable as a collateral contract.

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Definitions:

Profits

The financial gain obtained when the total revenue generated from business activities exceeds the total costs and expenses incurred.

Arbitraging

The practice of taking advantage of a price difference between two or more markets by buying low in one and selling high in another.

Vertical Relationships

The interactions between firms at different stages of the production process, such as suppliers and retailers.

Price Discriminate

Price discrimination is the practice of selling the same product or service at different prices to different customers, often based on willingness to pay, without a corresponding cost difference.