Which of the Following Statements Is Not True Concerning Consideration

question 75

Multiple Choice

Which of the following statements is not true concerning consideration?

• A)Consideration need not be adequate
• B)Consideration must be sufficient
• C)A promise may still be enforceable in the absence of consideration if the requirements of promissory estoppel are satisfied
• D)The price paid for a promise must be a fair price

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Definitions:

Functional

Related to the purpose or use of something; designed to be practical and useful.

Social Change

Transformations over time in societal norms, behaviors, values, and institutions.

Structural Functionalism

A theory in sociology which posits that society functions as an intricate system where its components interact to foster cohesion and maintain equilibrium.

Center-Periphery Differentiation

Describes the spatial and social division between the developed, politically, and economically dominant 'center' and the less developed, dependent 'periphery'.