An Offeree Can Form a Contract by Making a Promise

question 3

Multiple Choice

An offeree can form a contract by making a promise if the offer to form the contract is:

• A)Bilateral.
• B)Unilateral.
• C)Trilateral.
• D)Either A or B.
• E)Neither A,B,nor C.

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Definitions:

Life-Cycle Income

The total income an individual expects to earn over their lifetime.

Poverty Category

A classification for individuals or families whose income falls below a certain threshold, making it difficult to meet basic living expenses.

Millionaires

Individuals whose net worth or wealth is equal to or exceeds one million units of currency.

Income Inheritance

The transference of wealth or assets from one individual to another upon the death of the former, typically through a legal process or will.