Fact Pattern 12-A2

question 55

Multiple Choice

Fact Pattern 12-A2
Brad defends against a breach-of-contract suit by College Credit Corporation by claiming that their deal-a student loan accruing interest at a certain rate and payable beginning on a certain date-was unfair because the consideration for their contract was inadequate.
-Refer to Fact Pattern 12-A2. "Adequacy" of consideration refers to

• A) "how much" consideration is given.
• B) legally sufficient value in the eyes of the law.
• C) the intangible value to a contracting party of a thing exchanged.
• D) the substantiality of the consideration exchanged.

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Definitions:

Collection Cost

Expenses incurred in the process of collecting payments from customers, including billing, processing, and legal actions.

Supply Chain Surplus

The total value generated by all participants in the supply chain, often measured as the difference between customer value and the supply chain cost.

Logistics Driver

Critical factors that influence the efficiency and effectiveness of a company's logistics and supply chain operations.

Sourcing

The process of finding, evaluating, and engaging suppliers of goods and services to fulfill business requirements.