Which of the Following Statements Is TRUE

question 4

Multiple Choice

Which of the following statements is TRUE?

• A) Consideration must be adequate but it does not have to be sufficient.
• B) Love and affection can serve as consideration if a contract is created between family members.
• C) A party seeking to receive the benefit of a promise does not have to provide consideration if it placed its seal upon a document in which the promise is contained.
• D) To place a contract under seal, a person may either apply a seal or write the word "seal" on a document.
• E) A person can provide consideration by making a promise that will either create a benefit for itself or impose a detriment upon the other party.

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Definitions:

State Policy

Formal guidelines or courses of action adopted by a government to address public issues and achieve desired outcomes.

Early Industrialization

The phase during the 18th and 19th centuries when societies transitioned from agrarian to industrial economies, marked by the development of factories and machinery.

Tariff Barriers

Economic measures implemented by countries to restrict imports by increasing the cost of foreign goods through taxes.

Foreign Direct Investment

Investment made by a company or individual in one country in business interests in another country, in the form of establishing business operations or acquiring business assets.