Ch 10 quiz bus law
😊✔✔
Promising to do your roommate's laundry for the week is an example of what type of
consideration? - An example of consideration is a promise to do something.
Performance of a duty you are obligated to do under the law is - 😊✔✔inadequate
consideration.
😊✔✔
An illusory promise is sufficient consideration for unilateral contracts but not bilateral
contracts. - false
A painter refuses to finish painting Charles's house unless Charles pays him an extra
😊✔✔
$100 beyond the agreed contract price. Charles does not have to pay the extra money
because this is an example of - preexisting duty
Paul, who is 25 years old, promises to stop drinking alcohol until he passes the CPA
😊✔✔
(Certified Public Accountant) exam. What type of consideration does the example
suggest? - A detriment to the promisee.
%
😊✔✔
In a unilateral contract, one party's consideration is the promise and the other party's
consideration in return is also a promise. - false
Which of the following is an example of a unilateral contract? - 😊✔✔ David tells
Elizabeth that he will pay her $1,000 if she paints his house before October 1st.
Consideration must be - 😊✔✔the product of a bargained for exchange
😊✔✔
If the parties dispute the amount of money owed, the debt is a(n) __________ debt. -
unliquidated
As a friend and a CPA, Lara agrees to do Cliff's taxes for free. Lara does his taxes and
😊✔✔
as an expression of gratitude, Cliff promises to pay Lara $200. Lara cannot enforce the
promise because this is an illustration of - past consideration
Item 11
😊✔✔
Promising to do your roommate's laundry for the week is an example of what type of
consideration? - An example of consideration is a promise to do something.
Performance of a duty you are obligated to do under the law is - 😊✔✔inadequate
consideration.
😊✔✔
An illusory promise is sufficient consideration for unilateral contracts but not bilateral
contracts. - false
A painter refuses to finish painting Charles's house unless Charles pays him an extra
😊✔✔
$100 beyond the agreed contract price. Charles does not have to pay the extra money
because this is an example of - preexisting duty
Paul, who is 25 years old, promises to stop drinking alcohol until he passes the CPA
😊✔✔
(Certified Public Accountant) exam. What type of consideration does the example
suggest? - A detriment to the promisee.
%
😊✔✔
In a unilateral contract, one party's consideration is the promise and the other party's
consideration in return is also a promise. - false
Which of the following is an example of a unilateral contract? - 😊✔✔ David tells
Elizabeth that he will pay her $1,000 if she paints his house before October 1st.
Consideration must be - 😊✔✔the product of a bargained for exchange
😊✔✔
If the parties dispute the amount of money owed, the debt is a(n) __________ debt. -
unliquidated
As a friend and a CPA, Lara agrees to do Cliff's taxes for free. Lara does his taxes and
😊✔✔
as an expression of gratitude, Cliff promises to pay Lara $200. Lara cannot enforce the
promise because this is an illustration of - past consideration
Item 11
