Which of the Following Is True of Consideration for Modifying

question 57

Multiple Choice

Which of the following is true of consideration for modifying a sales or lease contract under the UCC?

• A)An agreement modifying a contract needs no consideration to be binding.
• B)Modifying a contract requires consideration from the offeree's side.
• C)An offeror who modifies a contract must do so by providing reasonable consideration.
• D)The party providing the consideration must complete it within three months of acceptance.

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Definitions:

A Proposition

An expression of a belief or assessment that conveys a perspective, capable of being true or misleading.

Venn Diagram

A diagram that uses circles to represent sets and their relationships to each other through overlap and separation.

Proposition

A vocalization or announcement that delivers an appraisal or sentiment, that might be factual or fallacious.

No S is P

A classical form of a categorical proposition stating that no members of subject S are part of predicate P.