Joe and Jack Have a Written Contract Whereby Joe Agrees

question 68

Multiple Choice

Joe and Jack have a written contract whereby Joe agrees to sell Jack a plot of land for $100,000.Later,without terminating the first contract,the parties modify the deal so that Joe sells Jack the same plot of land for $125,000.The second agreement is not a contract because:

• A)the first contract was not terminated.
• B)there is no consideration for Jack's promise.
• C)Joe's promise is illusory.
• D)written contracts for the sale of land cannot be modified.