A Promise to Do Something That You Are Already Obligated

question 48

True/False

A promise to do something that you are already obligated to do is generally a valid consideration.

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Definitions:

Buyer-Initiated

Transactions or actions that are started or requested by the purchaser rather than the seller.

Sequential Bidding

A process in auctions where bids are made one after another in a pre-determined sequence, often leading to increased strategic behavior among bidders.

Alternative Transportation

Refers to modes of transport that serve as options other than personal vehicles, such as public transit, cycling, walking, and carpooling, often emphasized for their environmental benefits.

Cutting Edge

The leading position in technological or innovative advancements within a particular field.