The General Common Law Rule on Contract Modifications Holds That

question 58

Multiple Choice

The general common law rule on contract modifications holds that an agreement to modify an existing contract requires a(n) :

• A)necessary increase in the value of the exchange.
• B)inclusion of a new party to the contract.
• C)new and independent consideration.
• D)economic exchange of substantial value.

---

Definitions:

Reinforcement

In psychology, a process by which a behavior is strengthened, making it more likely to occur again in the future, often through positive or negative stimuli.

Imitation

The action of using someone or something as a model and copying their behavior, actions, or characteristics.

Maturation

The process of becoming mature or fully developed physically, emotionally, or mentally.

Intersexuals

People whose medical classification at birth isn’t clearly male or female.