Consideration for a Promise Will Be Sufficient to Establish a Binding

question 25

Multiple Choice

Consideration for a promise will be sufficient to establish a binding agreement where:

• A)The price paid by the promisee is a vague promise to do something or refrain from doing something.
• B)The price paid for the promise was paid before the promise was made.
• C)The price paid by the promisee was the fulfilment of a prior legal obligation, that is, the performance of something the promisee was already legally obliged to do.
• D)The price paid has some legal value even if it is not a fair or adequate price.

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Definitions:

Dispute Resolution

A process aimed at resolving conflicts or disputes between parties through negotiation, mediation, arbitration, or legal actions.

Formal Coercion

The use of official or legal authority to force compliance or adherence to rules, often against the will of individuals or groups.

Aung San Suu Kyi

A Burmese politician, diplomat, author, and Nobel Peace Prize laureate known for her leadership in the struggle for democracy in Myanmar.