Question: Question 4 Why does an illusory contract lack consideration? because the person promises to perform an act or do something he is already under an

Question 4
Why does an illusory contract lack consideration?
because the person promises to perform an act or do something he is already under an obligation to do
becausc onc or both partics can choose not to perform their contractual obligations
because the consideration promised is unlawful and therefore void
because the compensation paid is for work done in the past
Question 4 Why does an illusory contract lack consideration? because the

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:

Chapter 05 - Planning for and Recruiting Human Resources Chapter Five: Planning for and Recruiting Human Resources Human Resource Management 3rd edition by R.A. Noe, J.R. Hollenbeck, B. Gerhart, and...

Q:

OBLIGATIONS AND CONTRACTS (Arts. 1169-1178, Civil Code of the Philippines) Questions: 1. B and C entered into a contract wherein B would deliver to C 10 cases of softdrinks on March 30, 2022. B...

Q:

4) Parktown Realty Inc developed an upscale condominium complex. On October 1, Miranda Wine signed an offer to purchase one of the units. Part of that document said, "This offer is irrevocable by the...

Q:

Question 1 5 pts All of the following are elements of the acceptance under the common law EXCEPT which of the following? Group of answer choices Clear intent to be bound by the offeree Communication...

Q:

13. Mr. Alex Perotti pulls his car into a line for a car wash. Alex says nothing and his car is washed by the car wash employees. Alex then refuses to pay for the car wash claiming that there was no...

Q:

Why does an illusory contract lack consideration? because the consideration promised is unlawful and therefore void because the person promises to perform an act or do something he is already under...

Q:

No explanation needed Question 47 Which of the following is true of a member-managed LLC? Shareholders are not allowed to decide matters relating to the business of the LLC. Any matter relating to...

Q:

A promise lacks consideration if a person promises to perform an act or do something he already under an obligation to do . This is called a ( n ) illegal consideration preexisting duty gift promise...

Q:

A promise lacks consideration if a person promises to perform an act or do something he is already under an obligation to do . This is called a ( n ) a . illegal consideration b . gift promise c ....

Q:

A promise lacks consideration if a person promises to perform an act or do something he is already under an obligation to do. This is called a(n) ________. Group of answer choices illusory promise...

Q:

From the choice of simple moving average, weighted moving average, exponential smoothing, and linear regression analysis, which forecasting technique would you consider the most accurate? Why?

Q:

A survey is takes for IQ scores. The standard deviation of the sample is 14.29 from 22 subjects. Construct a 99% confidence interval of the standard deviation and variance.

Q:

describe the following risk strategy in detail in relation to Glencore: "For commodity price volatility, implementing sophisticated hedging strategies using financial derivatives to establish price...

Q:

Bond X is noncallable and has 20 years to maturity, a 9% annual coupon, and a $1,000 par value. Your required return on Bond X is 12%; if you buy it, you plan to hold it for 5 years. You (and the...