Question 1

The promisor may make a promise to pay a sum of money to the promisee for the performance of a certain act.

Accepted Answer

A) True 
 B)False

Question 2

A barren promise is one that involves a promise:

Accepted Answer

A)   to do something one is already required to do.
B)   to perform an illegal act.
C)   to perform an act that involves an unreasonable period of time.
D)   that cannot be performed.E) A) and B)
F) A) and D)

Question 3

Describe agreements supported by moral consideration.

Accepted Answer

A person is not legally bound to do what...

Question 4

______ is a promise that is generally not valid consideration and is considered a gratuitous promise, except in cases of moral consideration.

Accepted Answer

A)   Present consideration
B)   Past consideration
C)   A barren promise
D)   An onerous contractE) A) and C)
F) All of the above

Question 5

The Uniform Commercial Code dispenses with the requirement for consideration in contracts that involve:

Accepted Answer

A)   a merchant's firm written offer of an irrevocable contract.
B)   an oral discharge of a claim for an alleged breach of contract.
C)   modifications on future contracts.
D)   modifications to executed contracts.E) A) and D)
F) C) and D)

Question 6

The law assumes that, as long as no undue pressure is brought to bear, the parties were:

Accepted Answer

A)   free to reject a proposed unfair contract.
B)   not allowed to enter into another contract.
C)   required to accept proposed contract terms.
D)   part of a confidential relationship.E) C) and D)
F) B) and C)

Question 7

Statutes, in some states, have permitted a person who has a claim against another to give up, or release, his or her claim without an exchange of consideration by making a written statement to that effect.

Accepted Answer

A) True 
 B)False

Exam 10: Consideration

______ is a promise that is generally not valid consideration and is considered a gratuitous promise, except in cases of moral consideration.

Correct Answer
verified

The promisor may make a promise to pay a sum of money to the promisee for the performance of a certain act.

Correct Answer
verified

A barren promise is one that involves a promise:

Correct Answer
verified

Describe agreements supported by moral consideration.

Correct Answer
verified
A person is not legally bound to do what...
View Answer

The law assumes that, as long as no undue pressure is brought to bear, the parties were:

Correct Answer
verified

The Uniform Commercial Code dispenses with the requirement for consideration in contracts that involve:

Correct Answer
verified

Statutes, in some states, have permitted a person who has a claim against another to give up, or release, his or her claim without an exchange of consideration by making a written statement to that effect.

Correct Answer
verified

Exam 10: Consideration

______ is a promise that is generally not valid consideration and is considered a gratuitous promise, except in cases of moral consideration.

Correct AnswerverifiedShow Answer

The promisor may make a promise to pay a sum of money to the promisee for the performance of a certain act.

Correct AnswerverifiedShow Answer

A barren promise is one that involves a promise:

Correct AnswerverifiedShow Answer

Describe agreements supported by moral consideration.

Correct AnswerverifiedA person is not legally bound to do what...View AnswerShow Answer

The law assumes that, as long as no undue pressure is brought to bear, the parties were:

Correct AnswerverifiedShow Answer

The Uniform Commercial Code dispenses with the requirement for consideration in contracts that involve:

Correct AnswerverifiedShow Answer

Statutes, in some states, have permitted a person who has a claim against another to give up, or release, his or her claim without an exchange of consideration by making a written statement to that effect.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
A person is not legally bound to do what...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified