Which of the Following Is True Regarding Promissory Estoppel

question 18

Multiple Choice

Which of the following is true regarding promissory estoppel?

• A) It requires reasonable reliance on the promisee's promise.
• B) It requires a written promise.
• C) It requires consideration.
• D) It applies only when one party is a merchant.

Analyze the impact of government interventions, like price ceilings, on market surplus.

Understand the relationship between substitute goods and their impact on market dynamics.

Assess the implications of surplus and shortage conditions on market dynamics.

Understand the role and importance of forecasting in financial planning.

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Definitions:

One Charge

Typically refers to a single financial cost or fee for a service or product.

Credit Bureau

A company that provides information about the creditworthiness of a person seeking credit.

Creditworthiness

A valuation or assessment of an individual's or organization's ability to repay debts or meet financial obligations.

Equal Credit Opportunity Act

A US federal law that prohibits discrimination by lenders against borrowers based on race, color, religion, national origin, sex, marital status, or age.