8-3 Promises

Under what doctrine are promises enforced

• Promissory estoppel
• Consideration
• Capacity
• Option

What type of loss to the promisee requires the promise to be enforced

• Economic
• Sincere
• Firm

Promises to what type of organizations are enforced if the organization stated a specific use for the contribution

• charitable
• all organizations
• Firms
• Merchants

what length of time do most states use for a statute of limitations

• Three years
• Three Months
• Six Years
• Two Years

What is a merchant's promise to leave an offer open called

• Firm offer
• Promise
• Consideration

What arrangement is made when one party pays another party to leave the offer open

• Option
• Promise
• Common arrangement

What principle specifies a time limit for bringing a lawsuit? 

• Statute of limitations
• Fair trade
• Promissory estoppel

Under what type of law is consideration necessary for modifying a contract

• common
• economic
• civil
• criminal

Under the UCC what length of time must merchants leave offers open?

• three months
• three years
• two months
• two years

What must charitable organizations specifically state in order for courts to enforce the pledge

• good intention
• A use for the money