Under the Common Law, a Modification of a Preexisting Contract

question 61

True/False

Under the common law, a modification of a preexisting contract must be supported by mutual consideration; under the Code, a contract can be modified without new consideration.

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Definitions:

General Adaptation Syndrome

A theory in psychology that defines the three stages of response (alarm, resistance, exhaustion) that the body goes through when exposed to chronic stress.

Type D Personality

A personality type characterized by high levels of stress, negativity, and the tendency to experience uncomfortable emotions.

Internal Locus

A psychological concept referring to individuals who believe they have control over their life events and outcomes.

Locus of Control

A psychological concept referring to the extent to which individuals believe they have control over the outcomes of events in their lives.