Fact Pattern 11-2 Brad Defends Against a Breach-Of-Contract Suit by College

question 58

Multiple Choice

Fact Pattern 11-2 Brad defends against a breach-of-contract suit by College Credit Corporation by claiming that their deal-a student loan accruing interest at a certain rate and payable beginning on a certain date-was unfair because the consideration for their contract was inadequate.
-Refer to Fact Pattern 11-2.If,as Brad claims,the consideration in this problem is inadequate,it may indicate a lack of​ 

• A) ​accord in Brad's satisfaction with the value of the deal. 
• B) ​voluntary consent. 
• C) ​flexibility on the part of College Credit to accommodate Brad's needs. 
• D) ​"heft," "substance," or "weight" in the terms of the contract.

---

Definitions:

Mode

The value that appears most frequently in a data set, representing the most common or popular response in a collection of data.

Frequently Occurring

Happening or appearing in a pattern that repeats often within a given time frame.

Adjusting Entries

Journal records created at the close of an accounting cycle to distribute revenues and costs to the period they truly happened in.

Prepaid Insurance

The portion of insurance premiums that has been paid in advance and is considered a current asset on the balance sheet because it provides future economic benefits.