State Regulation Refers To

question 8

Multiple Choice

State regulation refers to:

• A) rule-making by a state agency.
• B) rule-making by legislation.
• C) rule-making in which the state dominates.
• D) substantive and procedural rules.

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Definitions:

Preexisting Moral Obligation

A moral duty or responsibility that already exists before any new agreement or contract is made.

Consideration

The value (such as money, a service, or a promise) that is exchanged between parties in a contract.

Doctrine of Promissory Estoppel

A legal principle that prevents a promisor from retracting a promise that the promisee has relied upon, resulting in a significant change of position.

Disputed Debt

A disagreement between a creditor and a debtor over the existence, amount, or terms of repayment of a debt.