Which of Following Would Be Considered an Example of a Valid

question 15

Multiple Choice

Which of following would be considered an example of a valid contract?

• A) Nancy agrees to buy her 15-year-old neighbor's car for $10,000.
• B) George offers to pay Libber $1,000 for killing his neighbor's wife and Libber agrees to it.
• C) Tim owes Peter money, but the statute of limitations has run out.
• D) Tam owes Peters money, but before the statute of limitations ends, Tom is declared bankrupt.
• E) Tom owes Pete money, but Pete has waited too long to collect it and the statute of limitations has run out; however, Tom promises to repay half the amount.

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Definitions:

Inflation

The rate at which prices for general goods and services increase, lessening the ability to buy.

Economic Losses

Financial detriment or the reduction in economic value as a result of events such as natural disasters, market downturns, or policy changes.

Social Harmony

A state of peaceful coexistence and cooperation among individuals and groups in a society.

Anticipation

The act of expecting or foreseeing something, often relating to economic expectations about future market trends or government policies.