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:

Social Responsibility

The obligation of organizations to act in ways that benefit society and the environment beyond their immediate business interests.

Strategic Planning

The process of defining a business's strategy or direction and making decisions on allocating resources to pursue this strategy.

Shared Beliefs

Common values or principles held by a group of people, which influence their behavior and decision-making.

Ethical Responsibility

involves the duty of individuals and organizations to act in a morally principled manner to benefit society and minimize harm.