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:

Express Warranties

Explicit promises made by a seller to a buyer regarding the quality or nature of a product.

Disclaimed

A statement that denies responsibility, affiliation, or connection to something.

Impossibility of Performance

A legal doctrine where a party may be released from a contract due to unforeseen events making fulfillment unfeasible.

Subject Matter Destroyed

A situation where the physical or substantive basis of a case or matter has been eliminated or rendered irrecoverable.