Jeremy Agrees Not to Sue Angela for Having Crashed into His

question 14

True/False

Jeremy agrees not to sue Angela for having crashed into his car if she agrees to pay for his repairs.Since he promised only not to do something that he could have done,he has not given consideration for her promise to pay.

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Definitions:

Money

The set of assets in an economy that people regularly use to buy goods and services from other people.

Wealth

The accumulation of valuable economic resources and assets, including property, investments, and cash, that an individual or entity possesses.

Roundabout Trade

Trade involving multiple countries where goods are exported to one country before being re-exported to the final destination.

Double-Coincidence

The situation in a barter economy where two parties each hold an item the other wants, enabling an exact exchange without the need for a medium of exchange.