As It Pertains to Consideration,which of the Following Constitutes Value

question 7

Multiple Choice

As it pertains to consideration,which of the following constitutes value?

• A)an illusory promise
• B)a preexisting duty
• C)a forbearance
• D)All of these are correct.

Recognize the features of different types of checks and related banking instruments (e.g., cashier’s checks, certified checks, stale checks).

Learn about the implications of insufficient funds and overdrafts in the context of check writing and processing.

Understand the legal timeframe and conditions under which checks must be presented and processed.

Comprehend the responsibilities and potential liabilities of banks in the handling and processing of checks.

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Definitions:

Dred Scott

A landmark U.S. Supreme Court case in 1857 which ruled that African Americans, whether enslaved or free, could not be American citizens and therefore had no standing to sue in federal court.

Nineteenth Century

The period from January 1, 1801, to December 31, 1900, marking the 19th century of the Anno Domini era or Common Era, characterized by significant industrial, cultural, and social changes globally.

Territory Acquisition

The process by which a country or state expands its land and jurisdiction through purchase, negotiation, conquest, or discovery, significantly impacting its political and geographical landscape.

Ethnic Diversity

The presence of a wide range of distinct ethnic, cultural, and national groups within a given society or area.