Which of the Following Statements Is TRUE

question 29

Multiple Choice

Which of the following statements is TRUE?

• A)Consideration must be adequate but it does not have to be sufficient.
• B)A person can provide consideration by making a promise that will either create a benefit for itself or impose a detriment upon the other party.
• C)A party seeking to receive the benefit of a promise does not have to provide consideration if it placed its seal upon a document in which the promise is contained.
• D)Love and affection can serve as consideration if a contract is created between family members.
• E)To place a contract under seal, a person may either apply a seal or write the word "seal" on a document.

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Definitions:

Strategic Control

An attempt to make sure that strategies are well implemented and that poor strategies are scrapped or modified.

Top Management

The highest tier of executives and decision-makers in an organization, responsible for setting strategic directions and policies.

Middle Management

A level of management in an organization that is below top executives and above frontline employees, responsible for implementing company policies and strategies.

Focus Strategy

A strategy that concentrates on serving a unique market segment better than anyone else.