Blaw Final Examination with Already
Solved Solutions 2025-2026 Updated.
Chapter 12 - Answer
Reading (concepts and cases) - Answer
Consideration - Answer The value given in return for a promise
2 Parts:
1. legally sufficient value given in exc for promise
2. must be a bargained-for exchange
Legally Sufficient - Answer 1. promise with no prior legal duty to do
2.. performance tht otherwise not obligated
3. refraining from action legally allowed to FORBEARANCE
Consideration in bilateral contract - Answer Promise in return for a promise
Ex. sale of good contract
- seller promised to ship specific good to buyer
- buyer promised to pay for those goods
Each of these promises constitutes consideration
Consideration unilateral contracts - Answer a promise in return for a performance
Ex.
Anita- asks neighbor to paint her garage for 800 $
Neighbor- painting the garage (consideration)
Consideration in Forbearance - Answer in return for a promise to pay, a person refrains from
, Nephew - promise to retrain
Uncle died and will executer said no consideration was made
Appellate courts attested and ruled the restraint was consideration from the nephew
Adequacy of Consideration - Answer General rule:
Something need not be of direct economic or financial value to be considered legally sufficient
consideration.
inadequate consideration
indicate that fraud, duress, or undue influence was involved
Example 12.3
Spencer pays $500 for an iPhone
later discovers is a fake (counterfeit).
Bc device is not authentic, he could claim that there was no valid contract because of
inadequate consideration and fraud
Example 12.3 Inadequate exchange - Answer Spencer pays $500 for an iPhone
later discovers is a fake (counterfeit).
Bc device is not authentic, he could claim that there was no valid contract because of
inadequate consideration and fraud
doctrine of freedom of contract - Answer courts leave it up to the parties to decide what
something is worth,
Example 12.4 - preexisting contractual duty - Answer Bauman-Bache, Inc., begins
construction on a seven-story office building and after three months demands an extra $75,000
on its contract. If the extra $75,000 is not paid, the firm will stop working. The owner of the
land, finding no one else to complete construction, agrees to pay the extra $75,000. The
agreement is not enforceable because it is not supported by legally sufficient consideration—
Bauman-Bache had a preexisting contractual duty to complete the building.
Solved Solutions 2025-2026 Updated.
Chapter 12 - Answer
Reading (concepts and cases) - Answer
Consideration - Answer The value given in return for a promise
2 Parts:
1. legally sufficient value given in exc for promise
2. must be a bargained-for exchange
Legally Sufficient - Answer 1. promise with no prior legal duty to do
2.. performance tht otherwise not obligated
3. refraining from action legally allowed to FORBEARANCE
Consideration in bilateral contract - Answer Promise in return for a promise
Ex. sale of good contract
- seller promised to ship specific good to buyer
- buyer promised to pay for those goods
Each of these promises constitutes consideration
Consideration unilateral contracts - Answer a promise in return for a performance
Ex.
Anita- asks neighbor to paint her garage for 800 $
Neighbor- painting the garage (consideration)
Consideration in Forbearance - Answer in return for a promise to pay, a person refrains from
, Nephew - promise to retrain
Uncle died and will executer said no consideration was made
Appellate courts attested and ruled the restraint was consideration from the nephew
Adequacy of Consideration - Answer General rule:
Something need not be of direct economic or financial value to be considered legally sufficient
consideration.
inadequate consideration
indicate that fraud, duress, or undue influence was involved
Example 12.3
Spencer pays $500 for an iPhone
later discovers is a fake (counterfeit).
Bc device is not authentic, he could claim that there was no valid contract because of
inadequate consideration and fraud
Example 12.3 Inadequate exchange - Answer Spencer pays $500 for an iPhone
later discovers is a fake (counterfeit).
Bc device is not authentic, he could claim that there was no valid contract because of
inadequate consideration and fraud
doctrine of freedom of contract - Answer courts leave it up to the parties to decide what
something is worth,
Example 12.4 - preexisting contractual duty - Answer Bauman-Bache, Inc., begins
construction on a seven-story office building and after three months demands an extra $75,000
on its contract. If the extra $75,000 is not paid, the firm will stop working. The owner of the
land, finding no one else to complete construction, agrees to pay the extra $75,000. The
agreement is not enforceable because it is not supported by legally sufficient consideration—
Bauman-Bache had a preexisting contractual duty to complete the building.
