What Are Two Exceptions to the Rule Requiring Consideration

question 40

Multiple Choice

What are two exceptions to the rule requiring consideration?

• A)A contract under seal and a contract involving a liquidated debt.
• B)A contract under seal and promissory estoppel.
• C)A bilateral contract and a unilateral contract.
• D)Promissory estoppel and an illusory contract.
• E)A contract under seal and an illusory contract.

Distinguish between unilateral and bilateral contracts and their requirements.

Recognize the role of forbearance as a form of consideration.

Comprehend the criteria for enforceable agreements and the necessity of mutual consideration.

Identify different types of consideration and their legal validity.