Which of the Following Would Not Be a Promise Statutorily

question 53

Multiple Choice

Which of the following would not be a promise statutorily made enforceable without consideration?

• A) Hawkins, in good faith, changes the quantity of square yards of carpet ordered from Grant Mills.
• B) Jones promises to pay his cousin's past-due cell phone bill.
• C) Dodds signs and delivers a waiver of a claim arising out of a breach of contract by Keys.
• D) A signed, written offer by Marcum Jewelers to sell four dozen 18" gold chains to the Alpha Sorority for $480 within the next 30 days.

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Definitions:

Callable Bonds

Bonds that can be redeemed by the issuer before their maturity date at a predetermined call price.

Unamortized Discount

The portion of a bond discount that has not yet been amortized (expensed) over the life of the bond.

Carrying Amount

The value at which an asset is recognized on the balance sheet after deducting accumulated depreciation or amortization.

Premium On Bonds

The amount by which the price paid for a bond exceeds its face value, often due to interest rates being lower than the bond's coupon rate.