Which of the Following Was the Result on Appeal in Thelma

question 79

Multiple Choice

Which of the following was the result on appeal in Thelma Agnes Smith v.David Phillip Riley,the case in the text in which the plaintiff who had lived with the defendant out of wedlock for several years sought to enforce two agreements regarding the sale and assignment of property to her after the couple broke up?

• A)The court ruled in favor of the plaintiff on the basis that a recitation of nominal consideration of $1 along with consideration of love and affection was adequate consideration to support the agreements.
• B)The court ruled in favor of the plaintiff on the basis that the plaintiff's previous deposit of funds into a joint checking account was sufficient consideration for the later agreements.
• C)The court ruled in favor of the defendant on the basis that a recitation of nominal consideration of $1 along with love and affection was insufficient consideration to support a conveyance.
• D)The court ordered the parties to divide on a 50/50 basis the assets in question based on their domestic partnership.
• E)The court ruled in favor of the defendant on the basis that the plaintiff's previous deposit of funds into a joint checking account was insufficient consideration for the later agreements.

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Definitions:

Net Private Domestic Investment

The total amount spent by businesses and firms in the economy on capital goods, minus depreciation.

Depreciation

The process of allocating the cost of a tangible asset over its useful life, reflecting the asset's consumption, wear and tear, or obsolescence.

Gross Private Domestic Investment

The total amount of private domestic investment in physical assets such as buildings, machinery, and equipment by businesses and individuals within a country.

Income Approach

A method of calculating GDP by adding up all incomes within the economy, including wages, interest, profits, and rents.