Answer:
Promissory estoppel
Explanation:
If an oral contract has been declared unenforceable under the statute of frauds, yet one of the parties has rendered some performance under the contract that conferred benefits on the other party, he or she can recover the reasonable value of the performance in <u>promissory estoppel</u>.
The statute of fraud requires that contracts exceeding $500 in value, or involves the sale of landed property or extending a period of a year or more in length must be in writing and not oral. However, in a situation whereby a party has rendered some performance in the contract that confers benefits on the other party, the other party is obligated to also perform his/her part of the contract under the doctrine of promissory estoppel. The doctrine of promissory estoppel insist that an individual or party to a contract must perform his/her obligation or promise, even though there is not written proof of a contract as far as the other party has rendered some form of performance.
Answer:
The correct answer would be option B, Its approval by others.
Explanation:
A proposal is usually a plan or a set of suggestions, which is presented to others. It is usually in the written form. Proposals seek approval by others. Proposals are put forward for considerations by others. A proposal consists of plans and ideas about a certain thing. For example if business wants to open its new line of product, many different proposals can be submitted by the management regarding the launch of new product line. So the success of proposal is best reflected when it is approved by a large number of people.
