An illusory promise is created when

a. The promise is conditional on any other event happening first.
b. The promise is conditional on an event happening first that is outside the promissor's control.
c. The promise is conditional on an event happening first that is totally within the promissor's control.
d. The promise cannot be performed within 1 year of the contract date.

Answer: c. The promise is conditional on an event happening first that is totally within the promissor's control.

Business

You might also like to view...

What is key escrow?

What will be an ideal response?

Business

The portion of a long-term liability that is due within a year is still included in the long-term liability section of the balance sheet

Indicate whether the statement is true or false

Business