If Synergy Energy Corp

question 139

Multiple Choice

If Synergy Energy Corp.hires attorneys to keep it informed about new regulations,their salaries represent

• A)Administrative costs.
• B)Compliance costs.
• C)Capital costs.
• D)Efficiency costs.

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Definitions:

Consideration

a core concept in contract law that involves something of value exchanged between parties, which is necessary for a contract to be legally binding.

Payment

The transfer of money or goods from one party to another as a fulfillment of an obligation or settlement of a debt.

Ownership

The right to possess, use, and control a property or item, encompassing both tangible and intangible assets.

Promissory Estoppel

A legal principle preventing a party from going back on a promise, which another party relied upon, even if there was no formal contract.