Deeds

question 250

Multiple Choice

Deeds:

• A) are in writing
• B) are written or oral
• C) are legal only in certain states
• D) can only be used when the property being transferred is worth more than $10,000
• E) none of the other choices are correct

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Definitions:

Consideration

Something of value that is promised, given, or received in a contract to make it legally binding.

Moral Consideration

Ethical values or principles that influence an individual’s decisions and actions, often guiding behavior in social and professional contexts.

Unliquidated Debt

Debt for which the exact amount owed has not been determined.

Accord And Satisfaction

A legal contract whereby two parties agree to discharge a tort claim, contract, or disputed claim by an agreement (the accord) and payment (the satisfaction) that differs from the original agreement.