Which of the Following Is Correct with Respect to Consideration

question 69

Multiple Choice

Which of the following is correct with respect to consideration?

• A) It must be specific.
• B) It must be reasonable.
• C) It is binding even though a duty to so act already exists.
• D) It is to compensate for an act that happened in the past.
• E) At least some money must be involved.

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Definitions:

Rational Individuals

People who make decisions by logically evaluating options based on their preferences and the likely outcomes to maximize their benefit or utility.

Production Possibilities Curve

A graphical representation that shows the maximum quantity of two products that can be produced within a given set of resources, highlighting the trade-offs and opportunity costs.

Confusion

A lack of understanding or clarity about a situation, concept, or instruction.

Correlation And Causation

A relationship between two variables does not imply that one causes the other; correlation indicates a relationship, whereas causation indicates a cause-and-effect relationship.