Even Though an Unperformed Promise Qualifies as Consideration,an Unperformed Promise

question 107

True/False

Even though an unperformed promise qualifies as consideration,an unperformed promise does not meet the value requirement for qualifying as a holder in due course.

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Definitions:

Schemes

Cognitive structures or patterns of action that are used to organize and interpret experiences, a concept central to Jean Piaget's theory of cognitive development.

Deferred Imitation

A developmental phase where children are able to reproduce actions observed at an earlier time, without the model being present.

Morphemes

The smallest units of language that carry meaning, including prefixes, suffixes, and root words.

Mental Abilities

Intellectual skills and capabilities that include reasoning, problem-solving, and the capacity to understand complex ideas.