| A | B |
|---|
| Promises are enforced under the doctrine of promissory estoppel | True |
| Promises can be enforced if the promisor knew that the promisee would rely on the promise | True |
| Promises can be enforced even if the promisee does not act in reliance on the promise | False |
| Promises that involve a minimal economic loss to the promisee are always enforced | False |
| Most courts will enforce a promise made to a charitable organization even if no specific use for the money is stated | False |
| The statute of limitations for most states is three years | True |
| An individual cannot sue for breach of contract or tort when the statute of limitations has passed | True |
| A promise to leave an offer open is enforceable under common law | False |
| An option contract is created when a payment is made to keep an offer open | True |
| Merchants are bound by firm offers for up to three months | True |
