Which of the Following Promises in Consideration of Marriage Would

question 77

Multiple Choice

Which of the following promises in consideration of marriage would be outside the statute of frauds?

• A) In consideration of Joan's promising to marry him, Dwight promises to pay her an allowance and to give her all of his property upon his death.
• B) John and Mary mutually agree that their marriage shall not affect the existing property rights of the other.
• C) John and Joan mutually promise to marry each other in a formal ceremony on June 23.
• D) Joan promises to release a money judgment against Steven in consideration of his marrying her.

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Definitions:

Option

A financial derivative that gives the holder the right, but not the obligation, to buy or sell an asset at an agreed-upon price within a certain period.

Strike Price

The pre-determined price at which the holder of an option can buy (in the case of a call option) or sell (in the case of a put option) the underlying asset.

Exercise Value

The value of an option if it were exercised today, essentially representing the difference between the option’s strike price and the underlying asset's current price.

Call Options

A financial contract that gives the buyer the right, but not the obligation, to buy an asset at a specified price within a specified time frame.