Identify the Legally Insufficient Consideration

question 22

Multiple Choice

Identify the legally insufficient consideration.

• A) Alex promised to pay Tom for his car in four installments of $1,000 each. He fails to pay these installments. Tom threatens suit, to which Alex promises to pay just $100 in exchange for Tom's promise to release him from the remainder of the amount.
• B) Alex promised to pay Tom for his car in four installments of $1,000 each. He fails to pay these installments. Tom threatens to sue him, to which Alex promises to pay an interest of 2 percent whenever he gets his debtors to repay him.
• C) Alex promised to pay $1,000 to Tom for his car, due March 1. On March 1, Tom pays only $400 in exchange for Tom's promise to release him from the remainder of the amount.
• D) Alex promised to pay $1,000 to Tom for his car, due March 1. On February 27, Tom pays only $400 in exchange for Tom's promise to release him from the remainder of the amount.
• E) Alex promised to pay $1,000 to Tom for his car, due March 1. On March 18, Tom pays only $400 and takes Alex to the carnival.

Understand the psychological variables influencing buying behavior.

Recognize the importance of attitudes towards buying behavior.

Grasp the sources and methods for collecting primary market data.

Understand the elements of the marketing mix and their relationships.

---

Definitions:

Persistently

In a manner that continues firmly or obstinately, despite difficulty or opposition.

Anxiety Disorder

A mental health condition characterized by excessive fear, worry, or unease that interferes with daily activities.

Generalized Anxiety Disorder

A mental health disorder characterized by persistent and excessive worry about various aspects of daily life, often leading to significant distress or impairment.

Autonomic Arousal

The activation of the autonomic nervous system, which can manifest in physical responses such as increased heart rate or sweating, often as a reaction to stress or excitement.