Which of the Following Is True of Consideration

question 55

Multiple Choice

Which of the following is true of consideration?

• A)A promise cannot be deemed a consideration in a bilateral contract.
• B)The legal value of a consideration must be equal to the actual value in a consideration.
• C)Gross inadequacy of consideration can give rise to an inference of fraud for setting aside a contract.
• D)A preexisting moral obligation is deemed a consideration.

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Definitions:

Mental Processes

Internal cognitive operations that enable humans to acquire, process, store, and retrieve information, such as thinking, reasoning, and remembering.

Cognitive Perspective

An approach in psychology that focuses on the way people perceive, process, and remember information.

Mental Perspective

The specific cognitive orientation or viewpoint an individual adopts when interpreting and interacting with the world around them.

Biological Perspective

An approach in psychology focusing on physical and biological bases for behavior and feelings.