"A Promise to Perform a Pre-Existing Contractual Obligation Cannot Provide

question 31

Essay

"A promise to perform a pre-existing contractual obligation cannot provide consideration for a new contract.That rule is based on the fact that it would be undesirable if party A could threaten to break an existing contract in order to get party B to enter into a second agreement at a higher price." Is that statement true: (i)if the existing contract was created between A and B,or (ii)if the existing contract was created between A and C? In each instance,provide two reasons for your answer.

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Definitions:

Alzheimer's Disease

A progressive neurological disorder that causes memory loss, cognitive decline, and ultimately leads to death.

Schizophrenia

A long-term mental disorder involving a breakdown in the relation between thought, emotion, and behavior, leading to faulty perception and inappropriate actions or feelings.

Neurotransmitter

Chemicals in the brain that transmit signals from one neuron to another, facilitating communication within the nervous system.

Dopamine

is a neurotransmitter involved in many functions, including movement, motivation, reward, and addiction.