A Promise by a Creditor to Accept Less Than Full

question 18

Multiple Choice

A promise by a creditor to accept less than full payment from a debtor is

• A)unenforceable because the creditor did not provide consideration.
• B)enforceable because the promisee accepts the offer.
• C)a bilateral contract.
• D)unenforceable because it is a gratuitous promise.
• E)enforceable because it gives rise to a contract.

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Definitions:

Elastic

An object or material capable of resuming its normal shape spontaneously after being stretched or compressed.

Wrinkle

Creases, folds, or ridges in the skin, typically resulting from aging, skin damage, or dehydration.

Middle Adulthood

A stage in human development typically ranging from about 40 to 65 years of age, characterized by increased personal and professional responsibilities and awareness of aging.

Crystallized Intelligence

One’s intellectual attainments, as shown, for example, by vocabulary and accumulated knowledge.