An Exception to the Rule Requiring Consideration Is Promissory Estoppel

question 2

True/False

An exception to the rule requiring consideration is promissory estoppel.

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Definitions:

Futures Contract

A standardized legal agreement to buy or sell something at a predetermined price at a specified time in the future, used as a financial instrument for hedging or speculation.

Mini-Dow Futures

Futures contracts based on the Dow Jones Industrial Average but with a smaller contract size, allowing for more accessible investment.

Listed Price

The official price of a commodity, security, or asset that is publicly quoted on an exchange.

Futures Contract

Financial derivatives that obligate the buyer to purchase, and the seller to sell, a specified asset at a predetermined future date and price.