Valid consideration is not necessarily either the performance of an act or the payment of money. One
Question:
Valid consideration is not necessarily either the performance of an act or the payment of money. One party to a contract, for a variety of reasons, may wish to exchange his or her promise to pay money for a promise of inaction from the other party. Because promises of inaction are often difficult to verify, should promises of forbearance be legally acceptable?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (12 reviews)
Promises of various kinds are accep...View the full answer
Answered By
JAPHETH KOGEI
Hi there. I'm here to assist you to score the highest marks on your assignments and homework. My areas of specialisation are:
Auditing, Financial Accounting, Macroeconomics, Monetary-economics, Business-administration, Advanced-accounting, Corporate Finance, Professional-accounting-ethics, Corporate governance, Financial-risk-analysis, Financial-budgeting, Corporate-social-responsibility, Statistics, Business management, logic, Critical thinking,
So, I look forward to helping you solve your academic problem.
I enjoy teaching and tutoring university and high school students. During my free time, I also read books on motivation, leadership, comedy, emotional intelligence, critical thinking, nature, human nature, innovation, persuasion, performance, negotiations, goals, power, time management, wealth, debates, sales, and finance. Additionally, I am a panellist on an FM radio program on Sunday mornings where we discuss current affairs.
I travel three times a year either to the USA, Europe and around Africa.
As a university student in the USA, I enjoyed interacting with people from different cultures and ethnic groups. Together with friends, we travelled widely in the USA and in Europe (UK, France, Denmark, Germany, Turkey, etc).
So, I look forward to tutoring you. I believe that it will be exciting to meet them.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Indicate whether each of the following statements is true or false by writing T or F in the answer column. 1. Consideration is one of the elements of a contract. 1. ________ 2. The courts generally...
-
The performance of an attestation engagement on prospective financial information does not require which of the following? a. If the basis of the prospective financial information is different than...
-
Assessing the performance of an investment portfolio can be accomplished with either returns-based measures or holdings-based measures. What are the major advantages and major disadvantages of each...
-
The Kroger Company reported the following data in its annual report (in millions). Instructions a. Compute Kroger?s inventory turnovers for fiscal years ending January 28, 2017, and January 30, 2016,...
-
Explain the humoral immune response, including the activation of B cells.
-
For the following exercises, determine whether the function is odd, even, or neither. f(x) = 3x 4
-
Mind & Motion entered into a real estate purchase contract (REPC) with Celtic Bank to buy a large piece of the banks foreclosed property. Although the county had approved plans to construct...
-
You are the digital marketing director for High West fashions, a regional clothing company that specializes in custom t-shirts. Your company has decided to launch an online advertising campaign that...
-
IKEA entered the United States in 1985 and China in 1998. But the company started in 1958; why did it take so long to move into the United States and China? Why do you think IKEA is not in more than...
-
The trial balance of Biju Company, Ltd. at the end of its fi scal year, August 31, 2017, includes these accounts (amounts in thousands): Inventory Rp17,200; Purchases Rp149,000; Sales Revenue...
-
The most common form of valid consideration is the promise of money by one party for the promise of an act by another. Why is a mere promise deemed adequate in the eyes of the law when consideration...
-
A Question of Ethics Agreements between parties of unequal bargaining power are known as contracts of adhesion. For example, an apartment house owner presented a tenant with a lease renewal that...
-
Two boys have a tug-of-war using a rope. In the process the rope rubs against a post such that it is deflected 3 on each side of the post. If boy A weighs 60 lb and boy B weighs 50 lb, determine if...
-
1. Find the asymptotic complexity of the following code segment and express it using Big O notation. Show your work in detail. int sum = 0; for (int i = 1;i
-
Security Xs annual return follows Normal distribution with expected return of 5% and standard deviation of 10%. What is the level of annual return that will be exceeded with 95% probability?
-
A company is projected to generate free cash flows of $800 million per year for the next 3 years (FCFF1, FCFF2 and FCFF3). Thereafter, the cash flows are expected to grow at a 1.5% rate in...
-
Consider finding the longest common subsequence of X=CTGTAA and Y = GTCG using dynamic programming. (1) How many distinct subproblems are there, including the original problem and the base cases with...
-
Consider the following process: y(t) = 1.5y(t-1)-0.5y(t-2) + u(t-1)+ 0.6u(t-2) + {(t)/A estimate A(q-) and B(q) online with RLS, and then obtain the generalized predictive control law u(t) with A(q)...
-
A 7.7-mW laser produces a narrow beam of light. How much energy is contained in a 1.0-m length of its beam?
-
Following is the current balance sheet for a local partnership of doctors: The following questions represent independent situations: a. E is going to invest enough money in this partnership to...
-
Under what circumstances should a landlord be held liable for injuries suffered by a tenant who is a victim of a crime in his or her premises?
-
1. Knight purchased an apartment building that was occupied by tenants Hallsthammer, Decaprio, and Breit. The day after acquiring the building, Knight informed the tenants that their rent was being...
-
In teams of three or four, investigate whether your local community has a housing or landlordtenant court. What are some of the disputes decided by this court?
-
Can you elucidate the principles underlying genome organization and chromatin structure, including the roles of topologically associating domains (TADs) and chromosomal territories in gene regulation...
-
State three ways of using artificial intelligence and machine learning in marketing and explain each use case with two examples.
-
discuss the principles of population genetics, including allele frequency distributions, Hardy-Weinberg equilibrium, genetic drift, and natural selection, and how these concepts inform our...
Study smarter with the SolutionInn App