Question: Consideration requires a bargained for exchange: something for something; a promise for an act; a promise for a promise True or False

Consideration requires a bargained for exchange: something for something; a promise for an act; a promise for a promise

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 Law Questions!

Q:

Consideration requires a bargained for exchange: something for something; a promise for an act; a promise for a promise True False

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:

Chapters 7-8 - Contracts - Introduction & Agreement; Consideration, Capacity, & legality Chapter 7-8 A* We now are getting into contracts. Chapter 7 covers a basic introcution to contract law and...

Q:

1- Any acceptance must adhere to the mirror image rule. True Fals 2- An offer that becomes illegal or in violation of public policy prior to acceptance will be revoked by law. True False 3- E...

Q:

Consideration: Rule: Consideration requires a bargained- for-exchange and legal value. Analysis: Legal value requires a promise, performance and or a promise to refrain from doing something that a...

Q:

QUESTION 5 3 points Save Answer A promise to refrain from smoking cannot be sufficient consideration to a contract because it does not convey anything of economic value to the other party. True False...

Q:

Marty Golby was accepted by Nixon School of Law for the fall term of 1991. Several generations of Martys family had attended the prestigious law school. On August 14th, at a party to celebrate Martys...

Q:

2 QUESTION 11 All valid contracts require consideration. Chris made an offer to buy Tom's NYC apartment for $1.3 million dollars. Chris's consideration for the agreement is the promise to pay the...

Q:

Chapter 6 from The Legal and Ethical Environment of Business was adapted by The Saylor Foundation under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 license without attribution as...

Q:

1. Daniel Dimwit sees an advertisement for a toaster oven at Target for the price of $49.00. When he gets to Target they are all sold out. Sears has the same toaster oven for $60.00. Can Mr. Dimwit...

Q:

What is the difference between today's dollars and constant-value dollars? (a) When using today as the reference point in time (b) When using 2 years ago as the reference point?

Q:

Persuasive presentation, outline with sources and references pages , topic is STOP AND FRISK , three main point . My stance is I am fighting against it

Q:

What type of warranty exists when, at the time of contracting, the Seller has reason to know of the specific purpose for which the goods are required, and that the Buyer is relying on Seller s skill...

Q:

The function Ref cos 2 is harmonic in the C. (

Q:

Find the domain of the function defined by f(z) = Select one: a Re(z) = 0 %3D b. Im(z) = 0 %3D c. Im(z) # 0 d. Re(z) # 0

Q:

Which of the following function is not harmonic in the C-(0}: Select one: COS z o Im O Re(22) sin z o Im (- COS O Re

Q:

A sharpshooter can hit a bulls-eye target 95% of the time. Given that the probability of exactly eight bulls-eye in ten shots is 0.0746, what is the probability of exactly nine bulls-eye in ten shots?

Q:

If G is an open set in complex plan and f : G C is differentiable, then on G, f is: Select one: a. not analytic x Ob. Analytic Cc bounded d. Discontinuous

Q:

Write a program to wish happy birthday to a student. Firstly, take today month and day as an input and secondly take birthday as an input in the form of month and day. If the input day and month...

Q:

3. If there are reasonable alternatives, think about your decisions based on the different reference points and see if there are any contradictions in the decisions.

Q:

4. It is only at this point that you can give the problem your full attention in relation to the various ways you have framed the problem.

Q:

1. To provide an insight into why a communication situation can be perceived differently depending on which psychological framework we choose to use.