Which of the Following Statements Is Correct with Respect to the Law

question 81

Multiple Choice

Which of the following statements is correct with respect to the law of consideration?

• A)Consideration must have some value but need not be specific.
• B)For a contract to be binding,something valuable must have changed hands.This consideration may have been paid before the agreement (past consideration)or at the time of the agreement (present consideration),but future consideration is no consideration.
• C)Without consideration or a seal,there can be no contract.
• D)The amount of consideration to be paid in a contract must be reasonable (that is,fair)from the point of view of each party.
• E)Consideration need not be specific,but both parties must get something out of the deal.

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Definitions:

Parade

A public procession, often celebratory in nature, featuring marching bands, floats, and participants, organized for cultural, religious, or social events.

Generalizability

Exists when research findings apply beyond the specific case examined.

Researcher's Findings

The conclusions or results that a researcher has obtained from their study, often contributing to a field's body of knowledge.

Specific Case

A specific case refers to a particular instance or example that is distinguished from others due to unique characteristics or circumstances.