In Which of the Following Situations Is There Adequate Consideration

question 40

Multiple Choice

In which of the following situations is there adequate consideration on the part of the promisor to support enforcement of a contract?

• A) Bob,a police officer,promises to drive by your house and check on it during his off-duty time.
• B) Sam,a first-grade teacher,promises to make sure your child learns his lessons in class for $500.
• C) LBM Corporation,at Fred's retirement dinner,promises to pay Fred $2,000 a month during his retirement because of his years of dedication to the company.
• D) I promise to buy a bike from you for $400 if I decide I'm going to get a new bike this year.
• E) Billy,because of all that his mother did in raising him,promises her that he will buy her a new car.

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Definitions:

Implied Title

A legal concept indicating ownership rights that are not documented but assumed through one's actions or circumstances.

Sale-On-Approval Contract

A contract in which the seller allows the buyer to take possession of the goods before deciding whether to complete the contract by making the purchase.

Uniform Commercial Code

An all-encompassing group of laws that regulate every aspect of commercial exchanges within the United States.

Tangible

Referring to physical objects or assets that can be seen, touched, and quantified, as opposed to intangible items like rights or patents.