When the Exchange Rate for the British Pound Changes from $1.80

question 12

Multiple Choice

When the exchange rate for the British pound changes from $1.80 per pound to $1.60 per pound,then,holding everything else constant,the pound has ________ and ________ expensive.

• A)appreciated;British cars sold in the United States become more
• B)appreciated;British cars sold in the United States become less
• C)depreciated;American wheat sold in Britain becomes more
• D)depreciated;American wheat sold in Britain becomes less

Differentiate between legal sufficiency of consideration and adequacy of consideration.

Identify the requirements for a valid modification of contracts under both common law and the Uniform Commercial Code (UCC).

Analyze the enforceability of agreements based on past consideration or moral obligations.

Distinguish between illusory promises and conditional promises in the context of contract enforceability.

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