Which of the Following Statements Is TRUE

question 44

Multiple Choice

Which of the following statements is TRUE?

• A)The courts generally do not require adequate consideration because they believe that each person can look after their own interests by deciding how much to demand under a contract.
• B)Promissory estoppel can be used as a sword but not as a shield.
• C)Consideration is unnecessary as long as the word "seal" was printed on a form that a contractual party read.
• D)Because of the significance of the privity of contract doctrine,exceptions can only be created by the legislature,and not by the courts
• E)Consideration can never consist of a promise to perform a pre-existing obligation.

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Definitions:

Reference

a mention or citation of a source of information or evidence in scholarly work, or a recommendation from someone known to the requester.

Punitive Damages

Monetary compensation awarded to the plaintiff, over and above actual damages, intended to punish the defendant for egregious conduct.

Excess

The amount that is more than necessary, needed, or specified; in insurance, it refers to the part of a claim that the insured must pay, which is not covered by the insurer.

Civil Wrong

An action that harms someone else but is not necessarily a criminal act; typically addressed through civil legal proceedings for damages or restitution.