Indicate the Correct Statement About Consideration

question 174

Multiple Choice

Indicate the correct statement about consideration.

• A) In a bilateral contract, the exchange of promises does not provide consideration for both parties.
• B) The common law holds that consideration must be adequate to insure that contracts are fair bargains.
• C) Consideration is "the price for which the promise (or the act) of the other is bought."
• D) An altered course of action, e.g., forbearance, is not good consideration.
• E) In a unilateral contract, the performance of the promisee provides no consideration to the promisor.

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Definitions:

Ear Infection

An inflammation or infection of the ear, often caused by bacteria or viruses, which can affect the outer, middle, or inner parts of the ear.

Sense of Smell

The ability to detect and identify volatile substances through the olfactory system.

Loss of Balance

A condition where an individual struggles to maintain their body's equilibrium, which can result in unsteadiness or falling.

Blurred Vision

A lack of sharpness in seeing, resulting in the inability to see fine details.