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Which of the Following Data from the 2012 Condition of Education

question 5

Multiple Choice

Which of the following data from the 2012 Condition of Education compiled by the National Center for Education Statistics are true? Select all that apply.


Definitions:

Valid Consideration

An essential element of a contract, which constitutes something of value exchanged between the contracting parties.

Forbearance

Forbearance is the action of refraining from enforcing a right, obligation, or debt in a legal agreement, usually as an act of leniency by the creditor.

Sufficient Consideration

A legal concept indicating that the value exchanged in a contract is recognized as adequate, making the contract binding and enforceable.

Illusory Promise

A situation in which a party appears to commit to something but really has not committed to anything. It is not a promise and thus not consideration.

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