Fact Pattern 10-2 Brad Defends Against a Breach-Of-Contract Suit by College

question 11

Multiple Choice

Fact Pattern 10-2 Brad defends against a breach-of-contract suit by College Credit Corporation by claiming that their deal-a student loan-was unfair because the consideration for the contract was inadequate.
Refer to Fact Pattern 10-2. "Adequacy" of consideration refers to

• A) "how much" consideration is given.
• B) legally sufficient value in the eyes of the law.
• C) the intangible value to a contracting party of a thing exchanged.
• D) the substantiality of the consideration exchanged.

---

Definitions:

Individual Households

Single units comprising one or more persons within an economy that make decisions about consumption, saving, and labor supply.

Inflation

The speed at which the overall price level for products and services increases, diminishing the buying power.

Unemployment

The situation where individuals who are capable of working and willing to work do not find employment.

Opportunity Costs

The cost of the next best alternative foregone as a result of making a decision.