A,at the Request of B,enters into a Contract to Buy

question 38

Multiple Choice

A,at the request of B,enters into a contract to buy a horse from B for a certain price.Just after entering into the contract,B tells A that the horse is sound and healthy.Later A discovers that,in fact,the horse is in ill health.In this situation,B's statement to A that the horse was sound and healthy

• A)is partly fresh and past consideration so as to not make B's promise binding.
• B)is partly fresh and partly past consideration so as to make B's promise binding.
• C)is past consideration so as to not make B's promise binding.
• D)is fresh consideration so as to make B's promise binding.
• E)all of the above

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Definitions:

Compensating Wage Differential

A financial adjustment to salaries that aims to balance out less desirable aspects of a job, such as hazardous conditions or irregular hours.

Supply Of Labor

The supply of labor refers to the total hours that workers wish to work at a given real wage rate.

Labor Economists

Specialists who study the dynamics of the labor market, including employment, wages, and labor productivity.

Natural Ability

The inherent skills or talents that an individual possesses, often influencing their ease of learning or performing tasks.