An Illusory Promise Is an Enforceable Promise

question 71

True/False

An illusory promise is an enforceable promise.

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Definitions:

Liability for Negligence

The legal responsibility for harm caused by failing to act as a reasonable person would under similar circumstances.

Third Party Beneficiaries

Individuals or entities who are not parties to a contract but stand to benefit from its execution or its terms.

Accountant

A professional who performs accounting functions such as audits or financial statement analysis.

Client

A client is an individual or entity that engages the professional services or advice of another, establishing a professional relationship.