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:

Fixed Assets

Fixed assets are long-term tangible assets used in a company's operations, such as buildings, machinery, and equipment, which are not expected to be converted into cash in the short term.

Shares of Stock

Represent the units of ownership interest in a corporation or financial asset that investors buy and sell.

Inventory

The total amount of goods or materials held by a company, intended for sale or manufacturing into final products.

Cash Ratio

A financial metric assessing a firm's capability to meet its current obligations using its available cash and near-cash assets.