There Are Certain Transactions That Are Enforceable Without Consideration

question 6

Multiple Choice

There are certain transactions that are enforceable without consideration.These include:

• A)promises to pay a debt barred by the statute of limitations.
• B)a promise to pay a debt that has been discharged in bankruptcy if certain requirements are met.
• C)a new promise to perform a voidable obligation that has not previously been avoided.
• D)All of the above.

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Definitions:

Computerized Accounting System

Software used to manage and record accounting transactions, improving efficiency and accuracy.

ATM Withdrawals

Transactions where cash is taken out of a bank account using an Automated Teller Machine.

Depositor's Account

An account maintained by a depositor at a financial institution, reflecting the amount of funds deposited.

Uncollectible Check

A check that cannot be processed because the maker’s bank account has insufficient funds or the account is closed.