Which of the Following Is Not an Example of Insufficient

question 48

Multiple Choice

Which of the following is not an example of insufficient consideration for performance of a contract?

• A)A vague promise to do something or refrain from doing something.
• B)A price paid before the making of a promise: that is past consideration.
• C)A sum of money that represents less than the reasonable market value of the goods or services.
• D)A promise to do something that the promisor is already legally obliged to do.

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Definitions:

Peaches

A type of fruit known for its soft skin and sweet, juicy flesh, often enjoyed fresh or used in culinary dishes.

Oranges

A citrus fruit grown in warm climates, commonly consumed fresh, juiced, or used as flavoring in culinary dishes.

Absolute Advantage

The capacity of an entity to produce a good or service more efficiently than its competitors using the same amount of resources.

Comparative Advantage

A principle in economics that states a party's ability to produce a particular good or service at a lower opportunity cost than its trade partners, which can lead to beneficial trade.