Which of the Following Was the Result in the Case

question 17

Multiple Choice

Which of the following was the result in the case in the text Hamer v. Sidway, in which, after performance by his nephew, an uncle reneged on a promise to the nephew to pay him $5,000 if the nephew refrained from drinking liquor, using tobacco, swearing, and playing cards or billiards for money until he was 21 years of age?

• A) That because refraining from the conduct at issue benefited his character and health, the nephew could not recover.
• B) That no consideration was involved, and the nephew could not recover because the consideration from him did not consist of money or goods.
• C) That no consideration was involved, and the nephew could not recover because the proof established that the nephew had no interest in engaging in the items at issue, and avoiding them was no detriment to him.
• D) That the nephew could recover because he supplied consideration.
• E) That the nephew could recover, but only under promissory estoppel could he recover an amount compensating him for his reliance on the promise.

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Definitions:

Short-Run Aggregate Supply Curve

A curve depicting the relationship between the total supply of goods and services produced by a country and the price level for that output in the short term, taking some input prices as fixed.

Treasury Securities

Debt instruments issued by a government to finance its spending, offering a safe investment option with a guaranteed rate of return.

Fed's Monetary Policy

The strategies employed by the Federal Reserve System to regulate the amount of money in circulation and influence interest rates to achieve economic objectives like controlling inflation or stimulating growth.

Federal Funds Rate

The interest rate at which banks lend reserve balances to other banks overnight, which is determined by the Federal Reserve in the U.S.