Using Your Term Project Venture, Demonstrate Your Understanding of What

question 2

Essay

Using your term project venture, demonstrate your understanding of what constitutes a granular projection of revenue. What are the components of projecting revenues for your venture,
e.g. the key variables? If you have both product as well as services, how do the dynamics of revenue generation change for each type of revenue?

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Definitions:

Consideration

In contract law, consideration refers to something of value exchanged between parties, forming the basis for a contract.

Promissory Estoppel

A rule in law that prohibits an individual from retracting a pledge given to another if the latter has justifiably depended on this assurance to their harm.

Quasi Estoppel

A legal doctrine preventing a party from asserting rights or facts that contradict their past actions or statements.

Bilateral Contract

A type of contract involving mutual obligations whereby each party promises to perform an act in exchange for the other party's act.