The Rule That Doing or Promising to Do What One

question 14

Multiple Choice

The rule that doing or promising to do what one is already legally bound to do is not consideration applies to a part payment made in satisfaction of a(n) __________ debt.

• A) unliquidated
• B) superfluous
• C) non-superfluous
• D) liquidated

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Definitions:

Remaining Rights

Remaining rights refer to those rights retained by a party after some rights have been waived or transferred to another party.

Another Person

Refers to an individual or entity distinct from the parties directly involved in an agreement or legal case.

Security Deposits

Funds held by a landlord or property manager for a potential need related to rental property damage or non-payment, to be returned or applied as specified in a rental agreement.

Written Accounting

A detailed, formal report that records financial activities and transactions, typically prepared by an accountant or auditor.