Indicate Which One of the Following Is the Correct Statement

question 137

Multiple Choice

Indicate which one of the following is the correct statement about the effect of promissory estoppel on a promisor.

• A)Promissory estoppel can be used only "as a sword and not as a shield."
• B)When a victim relies on the promise and suffers injury,he or she can sue the promisor for compensation even where no consideration has been given in return for that promise.
• C)Promissory estoppel has no effect on a promisor because it relates only to statements of fact,not to promises.
• D)If you agree to pay a contractor an extra $10 000 to complete a contract as originally agreed and you actually pay him,you can later sue successfully for the return of the additional $10 000.
• E)Promissory estoppel can be used as a defence only against a promisor who reneges on his or her promise.

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Definitions:

Monetary Policy

The process by which a central bank, currency board, or other regulatory authority manages the supply of money in an economy, primarily through interest rates to achieve macroeconomic objectives like inflation, consumption, growth, and liquidity.

Money Supply

The total amount of monetary assets available in an economy at a specific time, including cash, coins, and balances held in checking and savings accounts.

Taxing

The act of imposing taxes on individuals or businesses by the government to generate revenue for public expenditures.

Ability-to-Pay Principle

A taxation principle that suggests taxes should be levied based on the taxpayer's ability to pay, implying that those with higher incomes should pay more taxes.