Sully Signs a Contract to Borrow $200,000 from Riverside Bank

question 19

Multiple Choice

Sully signs a contract to borrow $200,000 from Riverside Bank to buy a house. In the contract, Sully agrees to pay a certain rate of interest on the amount of borrowed funds at monthly intervals for thirty years. This debt is

• A) an illusory promise.
• B) liquidated.
• C) past consideration.
• D) unliquidated.

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Definitions:

Pesticides

Chemicals used to kill or manage the population of pests, including insects, weeds, and fungi, that threaten agricultural production and public health.

Intercropping

The agricultural practice of growing two or more crops in proximity to promote mutual benefits such as pest control and improved productivity.

Second Green Revolution

An agricultural movement aimed at improving food security and sustainability through advances in technology, genetic modification of crops, and farming practices.

High-Yield Varieties

Plants bred specifically to produce more food per acre compared to traditional varieties.