A Promise to Perform a Preexisting Duty Is Not Consideration

question 26

Multiple Choice

A promise to perform a preexisting duty is not consideration because the promise is essentially:

• A)void.
• B)voidable.
• C)implied.
• D)gratuitous.

Recognize the role and impact of social movements in societal change.

Identify solutions to social dilemmas according to Garrett Hardin.

Differentiate between individual interests and collective well-being in environmental issues.

Distinguish between fads and fashion in societal trends.

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Definitions:

Underinvestment

Underinvestment occurs when a company or individual invests less than what is necessary to achieve optimal growth or returns.

Wasteful Spending

This refers to the unnecessary or excessive use of funds.

Corporate Valuation Model

Defines the total value of a company as the value of operations plus the value of nonoperating assets plus the value of growth options.

Pro Forma

Financial statements or projections based on hypothetical scenarios or certain assumptions to forecast future performance.