Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Nov 17, 2024

Saved A gratuitous promise Multiple Choice Is a promise that by definition the promisor has no legal obligation to perform Is binding on the offering

Saved

A gratuitous promise

Multiple Choice

Is a promise that by definition the promisor has no legal obligation to perform

Is binding on the offering party

Must be fully performed before payment can be demanded

Is like consideration

Is a required element of a valid contract

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

Step: 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

LEADERSHIP Essential Selections On Power Authority And Influence

Authors: Barbara Kellerman

1st Edition

0071633847, 9780071633840

More Books

Students also viewed these General Management questions

Question

★★★★★

Why do some industries become global whereas others remain local or regional?

Answered: 1 week ago

Question

★★★★★

Define exactly what is meant by organizational culture, and discuss the interaction of national and MNC cultures.

Answered: 1 week ago

Question

★★★★★

Suppose that De Beers is a single-price monopolist in the diamond market. De Beers has five potential customers: Raquel, Jackie, Joan, Mia, and Sophia. Each of these customers will buy at most one...

Answered: 1 week ago

Question

★★★★★

Carl and Carol have salaries of $14,000 and $22,000, respectively. Their itemized deductions total $8,500. They are married and both are under age 65. a. Compute their taxable income assuming they...

Answered: 1 week ago

Question

★★★★★

Saved A gratuitous promise Multiple Choice Is a promise that by definition the promisor has no legal obligation to perform Is binding on the offering party Must be fully performed before payment can...

Answered: 1 week ago

Question

★★★★★

dujusted year-end trial balance at December 31, 2018, of Wilso Company. 30 points. Account Title Debit Credit Cash $ 7,900 Accounts receivable 17,800 Office supplies 4,000 Trucks 167,000 Accumulated...

Answered: 1 week ago

Question

★★★★★

Your Responses Now it's your turn. Complete Steps 1-4 below to identify and investigate a work- or academic-related problem in your own life, and then implement and evaluate a possible solution. Step...

Answered: 1 week ago

Question

★★★★★

3. Marvel Parts, Inc., manufactures auto accessories. One of the company's products is a set of seat covers that can be adjusted to fit nearly any small car. The company has a standard cost system in...

Answered: 1 week ago

Question

★★★★★

Required information P6-2 (Algo) Recording Bad Debts and Interpreting Disclosure of Allowance. for Doubtful Accounts LO6-2 [The following information applies to the questions displayed below] Trinity...

Answered: 1 week ago

Question

★★★★★

Simon Teguh is considering investing in a vending machine operation involving 20 vending machines located in various plants around the city. The machine manufacturer reports that similar vending...

Answered: 1 week ago

Question

★★★★★

The balance sheet for Umi Sustainable Seafood Inc. reported the following components of equity on December 31, 2019: Common shares, unlimited shares authorized, 20,500 shares issued and outstanding...

Answered: 1 week ago

Previous Question Next Question