The Promises Exchanged by the Parties to a Contract, Either

question 2

Multiple Choice

The promises exchanged by the parties to a contract, either to give up something of value they have a legal right to keep, such as money or property; to do something they are not otherwise legally required to do, such as performing a service; or to refrain from an action is known as:

• A) competence of parties.
• B) offer and acceptance.
• C) mutual agreement.
• D) consideration.

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Definitions:

Island Arc

An island arc is a type of archipelago, composed predominantly of a series of volcanoes, which arcs roughly parallel to the boundary of oceanic tectonic plates that are being subducted beneath lighter continental plates.

Continental Rifting

The process by which a continent stretches and splits along a rift zone, potentially leading to the formation of a new ocean basin.

Passive Margin

A continental margin that is not associated with plate boundaries and hence experiences little seismic activity.

Subduction

The process by which one tectonic plate moves under another plate and dives into the mantle, often causing volcanic activity.