Past Benefits Already Received by a Promisor Cannot Be Consideration

question 49

True/False

Past benefits already received by a promisor cannot be consideration for a later promise.

---

Definitions:

Expected Value

The anticipated value of a variable, calculated as the sum of all possible values each multiplied by the probability of its occurrence.

Health Care Costs

Refers to the expenses associated with medical services, including prevention, treatment, rehabilitation, and health maintenance.

Buying A Warranty

The act of purchasing a guarantee, typically from a manufacturer, that a product will be repaired or replaced if it fails within a certain period of time.

Avoid Risk

The strategy of making decisions that minimize the possibility of experiencing negative outcomes.