Which of the following is true of a promissory estoppel?
A) It is invoked in cases having option contract infringements.
B) It permits a court to order enforcement of a contract that lacks consideration.
C) It allows for a party to claim goods, which were revoked, for which it has already paid consideration.
D) It is invoked in cases that involve a promissory note to pay considerations at a later time.
B
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Saxon Corporation sells a product for $48 with costs of $33 per unit. Saxon uses a 9% rate of return for all its calculations. The CFO estimates that there is a 20% probability of a prospective new customers seeking credit will go bankrupt within the next 6 months. Customer wishes to place an order for 1,000 units of the product.
A) Extend credit; total benefit of $3,880 B) Extend credit; total benefit of $3,780 C) Extend credit; total benefit of $3,980 D) Extend credit; total benefit of $4,080
A payable involves a future receipt of cash.
a. true b. false