Which of the Following Promises Is Enforceable Without Consideration According

question 36

Multiple Choice

Which of the following promises is enforceable without consideration according to statutory law?

• A) Promissory estoppel
• B) Revival of promise barred by statute of limitations
• C) International contracts
• D) Voidable duties
• E) Moral obligation

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Definitions:

Installation Costs

Expenses associated with putting fixed assets into operation, including the costs of setting up, assembling, and installing the assets.

Residual Value

The estimated amount that an asset is expected to realize at the end of its useful life.

Straight-Line Method

A depreciation method that allocates an equal amount of depreciation expense for an asset over its useful life.

Depreciation Rate

The rate at which an asset is depreciated over a specified period, often expressed as a percentage of its original cost.