Which of the Following Is Correct with Respect to the Adequacy

question 7

Multiple Choice

Which of the following is correct with respect to the adequacy of consideration?

• A)Consideration need not be legal if both parties clearly consent.
• B)Both parties must be present if the agreement is under seal.
• C)Consideration may be only love and affection.
• D)Consideration need not be fair,unless there are extenuating circumstances (i.e.,insanity or fraud).
• E)Consideration might result from existing duty: a change in the contract requires no new consideration.

Assess the role of major global institutions and policies in shaping international economic relationships.

Understand the role and implications of various international agreements and organizations on global trade and labor standards.

Identifying the factors that increase volatility in international financial markets.

Recognize the impact of corporate practices and regulations on global labor standards.

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Definitions:

Minimum Discount Rate

The lowest rate at which future cash flows are discounted to determine their present value.

Project

A deliberate arrangement of tasks that are interconnected, aimed to be finalized within a designated time frame and under particular cost and constraint conditions.

Accounting Rate

Typically referred to as the rate of return, it measures the profitability of investments or projects based on accounting information, rather than the current market value.

Limited Economic Resource

A scarcity or limitation of resources that possess utility or value, which restricts their availability for use in production, consumption, or investment.