Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Brandie is facing financial difficulties. Warren wants to help Brandie and tells her that he will loan her $ 1 , 0 0 0 .

Brandie is facing financial difficulties. Warren wants to help Brandie and tells her that he will loan her $1,000. Later, Warren refuses to loan the promi money to Brandie. In the context of this scenario, which of the following statements is true?
Multiple Choice
Warren does not have to loan the money to Brandie because of the mirror image rule.
Warren need not loan the money to Brandie because Brandie did not promise anything in return.
Warren must loan the money to Brandie because he has entered into an implied-in-fact contract by promising her the money.
Warren must loan the money to Brandie because he has entered into an executory contract by promising her the money.
Warren must loan the money to Brandie because a promise is made, and consideration has nothing to do with the agreement.
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Management Of Health Care Organizations

Authors: William N. Zelman, Michael J. McCue, Noah D. Glick

3rd Edition

0470497521, 9780470497524

More Books

Students also viewed these Finance questions

Question

Describe brand equity and brand parity.

Answered: 1 week ago