Which of the Following Is Enforceable Without New Consideration

question 21

Multiple Choice

Which of the following is enforceable without new consideration?

• A)Beth, after reaching the age of majority, promises to pay off a debt she incurred while a minor.
• B)Cheyenne entered a contract to buy a car based on a fraudulent misrepresentation.A new promise to pay is made without knowledge of the original fraud.
• C)Val entered a contract voidable because of mistake.A new promise to fulfill the contractual obligations that had not previously been avoided and without knowledge of the mistake is enforceable without new consideration.
• D)None of the above.New promises to perform voidable obligations that have not previously been avoided must always have new consideration.

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Definitions:

Semiannual Interest

Interest that is calculated and paid twice a year, often used in the context of bonds and loans.

Issuance

The process of distributing new securities, such as stocks or bonds, to investors by a corporation or government.

Interest Expense

The amount of interest payable on any borrowings, such as loans, bonds, or credit lines, within a specific timeframe.

Face Value

The nominal value printed on a financial instrument, such as a bond or stock certificate, representing its value at issuance or maturity.