Which of the Following Statements Is TRUE

question 59

Multiple Choice

Which of the following statements is TRUE?

• A) As a general rule, a creditor's promise to accept a lesser sum in complete discharge of a larger debt is unenforceable.
• B) As a general rule, a promise that is not supported by valuable consideration is enforceable only if both parties have applied their seals.
• C) As a general rule, a promise to perform a pre- existing contractual duty to one party can provide consideration for a new contract with that same party.
• D) As a general rule, a promise to perform a pre- existing contractual duty to one party cannot provide consideration for a new contract with a different party.
• E) As a general rule, a promise to perform a pre- existing public duty can provide consideration for a new contract.

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Definitions:

Typical 10-Year Period

Refers to an average or standard time frame of ten years used for long-term analysis or planning.

Families

Social units consisting of one or more adults together with the children they care for, connected by marriage, blood relation, or other durable ties.

Equality Of Opportunities

The principle that all individuals should have the same chances to pursue their goals and improve their lives, regardless of their background, race, gender, or socioeconomic status.

Equality Of Outcomes

A socio-economic principle aiming for a similar distribution of material wealth and income among all members of society, often requiring redistribution policies.