Question: A promise to not do something that you have a legal right to do , in exchange for money, is considered sufficient consideration to enforce

A promise to not do something that you have a legal right to do, in exchange for money, is considered sufficient consideration to enforce a contract. True or False

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Q:

Scott Kelly is reviewing MasterToy's financial statements in order to estimate its sustainable growth rate. Consider the information presented in the following exhibit. a. Identify and calculate the...

Q:

1. Was VAAF contractually obligated to pay Chad for refraining from smoking? 2. Was there consideration to support its promise to pay $500? 3. Are there other facts you need to know to make that...

Q:

this is business law. plz answer all the q QUESTION 43 Marco, an emancipated minor, rented an apartment from Chloe at $900 per month. At the end of a vear, Marco moved out without paying the rent for...

Q:

Question 1 Bill downloaded an antivirus software from the Internet. Under the Uniform Commercial Code (UCC), the software is a: good. service. good-faith warranty. mixture of goods and services. 2...

Q:

Please following 5 cases do summary per each and organize your answer as a lawyer using IRAC (Issue; Rule; Application and Conclusion)? Dougherty v. Salt 125 N.E. 94(1919) Cardozo, J. The plaintiff,...

Q:

Please following 5 cases do summary per each and organize your answer as a lawyer using IRAC (Issue; Rule; Application and Conclusion)? Dougherty v. Salt 125 N.E. 94(1919) Cardozo, J. The plaintiff,...

Q:

Please following 5 cases do summary per each and organize your answer as a lawyer using IRAC (Issue; Rule; Application and Conclusion)? Dougherty v. Salt 125 N.E. 94(1919) Cardozo, J. The plaintiff,...

Q:

QUESTION 1 For consideration to have "legally sufficient value," it does not have to consist of goods or money. True False QUESTION 2 Two parties can mutually agree to rescind a contract only if one...

Q:

Facts: William E. Story, Sr., was the uncle of William E. Story II. On March 20, 1869, in the presence of guests at a party, the elder Story promised to pay his nephew $5,000 if the nephew would...

Q:

Case 3 (6 points) Facts: William E. Story, Sr., was the uncle of William E. Story II. On March 20, 1869, in the presence of guests at a party, the elder Story promised to pay his nephew $5,000 if the...

Q:

Facts: William E. Story, Sr., was the uncle of William E. Story II. On March 20, 1869, in the presence of guests at a party, the elder Story promised to pay his nephew $5,000 if the nephew would...

Q:

Great Pasta Company manufactures a single product that goes through two processes-mixing and cooking. The following data pertains to the Mixing Department for September 33,000 units 70%...

Q:

#17 O A couple has just purchased a home for $432,000.00. They will pay 20% down in cash, and finance the remaining balance. The mortgage broker has gotten them a mortgage rate of 3.96% APR with...

Q:

When did the revised IAS 1 9 become effective? Multiple choice question. 2 0 0 0 2 0 0 5 2 0 1 8 2 0 1 3

Q:

The annual demand for an item is 1,700 units. The order cost is $7. Unit cost is $8 and the unit holding cost per year is 18% of the item's value. The order quantity is 125 units. What are the total...