ch 12 - Chapter 12 Consideration TRUE/FALSE QUESTIONS A1....

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Unformatted text preview: Chapter 12 Consideration TRUE/FALSE QUESTIONS A1. In contract law, consideration refers to the courtesy that one party shows another in negotiating a deal. ANSWER: F PAGE: 250 TYPE: N NAT: AACSB Analytic AICPA Legal B1. In contract law, consideration refers to the time that a party takes to evaluate a deal. ANSWER: F PAGE: 250 TYPE: N NAT: AACSB Analytic AICPA Legal A2. For consideration to have legally sufficient value, it must consist of goods or money. ANSWER: F PAGE: 250 TYPE: + NAT: AACSB Analytic AICPA Legal B2. If a promise is made, it will be enforced. ANSWER: F PAGE: 250 TYPE: = NAT: AACSB Analytic AICPA Critical Thinking A3. A promise by one party to pay another for refraining from an act is enforceable. ANSWER: T PAGE: 250 TYPE: = NAT: AACSB Reflective AICPA Legal 117 118 TEST BANK AUNIT THREE: CONTRACTS AND E-CONTRACTS B3. To be legally sufficient, consideration must include something of economic value. ANSWER: F PAGE: 250 TYPE: N NAT: AACSB Analytic AICPA Legal A4. Use of the word consideration in an agreement means that consideration has been given. ANSWER: F PAGE: 250 TYPE: = NAT: AACSB Reflective AICPA Legal B4. A promise to do something that one has a prior legal duty to do is not consideration. ANSWER: T PAGE: 250 TYPE: + NAT: AACSB Reflective AICPA Legal A5. A transaction that lacks a bargained-for exchange lacks an element of consideration. ANSWER: T PAGE: 251 TYPE: N NAT: AACSB Analytic AICPA Legal B5. Failing to use the word consideration in an agreement means that no consideration has been given. ANSWER: F PAGE: 250 TYPE: = NAT: AACSB Reflective AICPA Legal A6. Parties are not generally free to bargain as they wish. ANSWER: F PAGE: 253 TYPE: = NAT: AACSB Analytic AICPA Critical Thinking CHAPTER 12: CONSIDERATION 119 B6. A bargained-for exchange is one of the elements of consideration. ANSWER: T PAGE: 251 TYPE: N NAT: AACSB Analytic AICPA Legal A7. Inadequate consideration may indicate undue influence. ANSWER: T PAGE: 253 TYPE: + NAT: AACSB Analytic AICPA Legal B7. Inadequate consideration may reflect a lack of bargained-for exchange. ANSWER: T PAGE: 253 TYPE: = NAT: AACSB Analytic AICPA Legal A8. Normally, a court of law will not question the adequacy of consideration. ANSWER: T PAGE: 253 TYPE: + NAT: AACSB Analytic AICPA Legal B8. Unforeseen difficulties that justify a demand for additional compensation include risks ordinarily assumed in business. ANSWER: F PAGE: 254 TYPE: = NAT: AACSB Analytic AICPA Legal A9. The preexisting duty rule permits a party who is bound by contract to perform a certain duty to use that duty as consideration for a second contract. ANSWER: F PAGE: 254 TYPE: = NAT: AACSB Analytic AICPA Legal B9. Extraordinary difficulties that were unforeseen at the time a contract was formed do not justify a demand for additional compensation. ANSWER: F PAGE: 254 TYPE: = NAT: AACSB Analytic AICPA Legal A10. Rescission is the dissolution of a contract that returns the parties to the positions they held before the contract. 120 TEST BANK AUNIT THREE: CONTRACTS AND E-CONTRACTS ANSWER: T PAGE: 254 TYPE: N NAT: AACSB Analytic AICPA Legal B10. Rescission is the substitution of one party to a contract for a third party, who agrees to assume the contractual duties. ANSWER: F PAGE: 254 TYPE: N NAT: AACSB Analytic AICPA Legal A11. Two parties can mutually agree to rescind a contract unless it is executory. ANSWER: F PAGE: 254 TYPE: = NAT: AACSB Analytic AICPA Legal B11. An obligation is enforceable only if it is supported by past consideration. ANSWER: F PAGE: 254 TYPE: = NAT: AACSB Analytic AICPA Legal A12. A later promise to do what one already has a legal duty to do is legally sufficient consideration. ANSWER: F PAGE: 254 TYPE: = NAT: AACSB Analytic AICPA Legal B12. Any promise made with respect to a past event is enforceable because the event is certainit has already occurred. ANSWER: F PAGE: 254 TYPE: = NAT: AACSB Analytic AICPA Legal A13. A promise to pay for an act that has already occurred is enforceable. ANSWER: F PAGE: 254 TYPE: = NAT: AACSB Analytic AICPA Legal B13. Cashing a check in an amount for less than a balance owed and on which the debtor has written payment in full will discharge a liquidated debt. ANSWER: F PAGE: 258 TYPE: = NAT: AACSB Reflective AICPA Legal CHAPTER 12: CONSIDERATION 123 A1. Ida promises to pay Jon, her son, $15,000 if he obtains his degree at Kappa University, where he is currently in his second year. Jon graduates. Ida is a. not required to pay, because Jon was already at Kappa. b. not required to pay, because obtaining a degree benefits Jon. c. required to pay, because a job can be hard to find after college. d. required to pay, because Jon obtained a degree at Kappa. ANSWER: D PAGE: 250 TYPE: = NAT: AACSB Reflective AICPA Legal B1. Rollo promises to perform, for a price, shoe repair services in affiliation with Togs n Things, a clothing store. To support a contract, the consideration exchanged by the parties must be a. adequately considerate. b. equally valuable. c. legally sufficient. d. wisely priced. ANSWER: C PAGE: 250 TYPE: = NAT: AACSB Analytic AICPA Legal 124 TEST BANK AUNIT THREE: CONTRACTS AND E-CONTRACTS Fact Pattern 12-A1 (Questions A2CA3 apply) Daves Hobby Town and Evas Yarn Shoppe are adjacent stores with adjoining parking lots. Dave offers Eva a discount on purchases from Daves store if Eva will not tow the cars of Daves customers who park in Evas lot. A2. Refer to Fact Pattern 12-A1. Daves discount is legally sufficient consideration a. because it is a promise of something of value. b. only if Dave adds a cash rebate. c. only if Eva uses it. d. under no circumstances. ANSWER: A PAGE: 250 TYPE: N NAT: AACSB Analytic AICPA Legal B2. Axel, the owner of Bar-B-Q Caf, announces that he plans to paint its front fluorescent red. Cleo, the owner of Delicate Dress Shop next door, promises to pay Axel $1,000 to use a more conservative color. Axel agrees. Cleos promise is a. enforceable, because Axel agreed to refrain from doing something that he was legally entitled to do. b. enforceable, because Axel would resent Cleo if she never paid. c. unenforceable, because Axel agreed to refrain from doing something that he was legally entitled to do. d. unenforceable, because Axels color choice was offensive to Cleo. ANSWER: A PAGE: 250 TYPE: = NAT: AACSB Reflective AICPA Legal Fact Pattern 12-A1 (Questions A2CA3 apply) Daves Hobby Town and Evas Yarn Shoppe are adjacent stores with adjoining parking lots. Dave offers Eva a discount on purchases from Daves store if Eva will not tow the cars of Daves customers who park in Evas lot. A3. Refer to Fact Pattern 12-A1. Evas forbearance from towing is legally sufficient consideration a. because it is a promise of something of value. b. only if Daves customers park in Evas lot. CHAPTER 12: CONSIDERATION 125 c. only if Evas customers cannot park in her lot because it is full. d. under no circumstances. ANSWER: A PAGE: 250 TYPE: N NAT: AACSB Analytic AICPA Legal B3. Jill promises to pay Kyle $500 because he does not have as much money as other people. Jills promise is a. enforceable because society wants people to keep their promises. b. enforceable because the redistribution of wealth is a valid social goal. c. not enforceable because Jill could have given more. d. not enforceable because Kyle has not given consideration in return. ANSWER: D PAGE: 251 TYPE: = NAT: AACSB Reflective AICPA Legal Fact Pattern 12-A2 (Questions A4CA6 apply) Brad defends against a breach-of-contract suit by College Credit Corporation by claiming that their deala student loan accruing interest at a certain rate and payable beginning on a certain datewas unfair because the consideration for their contract was inadequate. A4. Refer to Fact Pattern 12-A2. A court is most likely to evaluate the adequacy of consideration if a. a thing exchanged has no intangible value to one of the parties. b. something exchanged is not of direct economic or financial value. c. the items exchanged were of unequal value. d. there is a gross disparity in the value of the consideration exchanged. ANSWER: D PAGE: 253 TYPE: N NAT: AACSB Analytic AICPA Legal 126 TEST BANK AUNIT THREE: CONTRACTS AND E-CONTRACTS B4. Coverage, Inc. (CI), coordinates an insurance network that includes 1 million potential patients. By contracting with CI, a medical provider gains access to the network in exchange for accepting payments at lower than market rates. Doctors, Inc., contracts with CI but, when few patients are forthcoming, files a suit to recover the difference between the contract and market rates. The court will most likely rule that the contract is a. enforceable because consideration is not required for this contract. b. enforceable because the contract does not lack consideration. c. not enforceable because Doctors received few patients. d. not enforceable because the contract lacks consideration. ANSWER: B PAGE: 253 TYPE: = NAT: AACSB Reflective AICPA Legal Fact Pattern 12-A2 (Questions A4CA6 apply) Brad defends against a breach-of-contract suit by College Credit Corporation by claiming that their deala student loan accruing interest at a certain rate and payable beginning on a certain datewas unfair because the consideration for their contract was inadequate. A5. Refer to Fact Pattern 12-A2. Adequacy of consideration refers to a. how much consideration is given. b. legally sufficient value in the eyes of the law. c. the intangible value to a contracting party of a thing exchanged. d. the substantiality of the consideration exchanged. ANSWER: A PAGE: 253 TYPE: N NAT: AACSB Analytic AICPA Legal B5. Jeff offers Kelly $1,000 for her three-year-old laptop computer. Kelly accepts. If a dispute arises, a court would likely a. enforce the deal after questioning the adequacy of consideration. b. not question the adequacy of the consideration. c. rewrite the deal after questioning the adequacy of consideration. d. set aside the deal after questioning the adequacy of consideration. CHAPTER 12: CONSIDERATION 127 ANSWER: B PAGE: 253 TYPE: = NAT: AACSB Reflective AICPA Legal Fact Pattern 12-A2 (Questions A4CA6 apply) Brad defends against a breach-of-contract suit by College Credit Corporation by claiming that their deala student loan accruing interest at a certain rate and payable beginning on a certain datewas unfair because the consideration for their contract was inadequate. A6. Refer to Fact Pattern 12-A2. If, as Brad claims, the consideration in this problem is inadequate, it may indicate a lack of a. accord in Brads satisfaction with the value of the deal. b. bargained-for exchange or mutual assent. c. flexibility on the part of College Credit to accommodate Brads needs. d. heft, substance, or weight in the terms of the contract. ANSWER: B PAGE: 253 TYPE: N NAT: AACSB Reflective AICPA Legal B6. Quality Steel Corporation files a suit against Rite Tool Company, claiming that the consideration for their contract is inadequate. The court will most likely not examine the adequacy of the consideration if a. it is obvious that the consideration is adequate. b. Rite Tool asserts that there is adequate consideration. c. something of value passed between the parties. d. the consideration is worth more than $100. ANSWER: C PAGE: 253 TYPE: N NAT: AACSB Reflective AICPA Legal A7. Digital Computers (DC) agrees to sell 100 hard drives to Eagle Computer Stores. Later, to obtain a higher profit, DC demands an extra $100 per drive to complete delivery. With no other source for DC drives, Eagle reluctantly agrees. Regarding this agreement, a court would likely a. enforce it. b. rescind it. c. order the parties to renegotiate it. 128 TEST BANK AUNIT THREE: CONTRACTS AND E-CONTRACTS d. not enforce it. ANSWER: D PAGE: 254 TYPE: = NAT: AACSB Reflective AICPA Legal B7. Applied Methods Corporation promises to give stock options to Brad, a production designer, for processes he has already designed. This promise is a. enforceable because it is a new contract. b. enforceable because it is an illusory promise. c. enforceable because it is supported by past consideration. d. unenforceable. ANSWER: D PAGE: 254 TYPE: = NAT: AACSB Reflective AICPA Legal A8. National Business Company and One-State Sales, Inc., agree to si- multaneously rescind their contract and enter into a new agreement under which their duties are the same. National later sues One-State to enforce the new agreement. The court a. may apply the preexisting rule or allow the rescission. b. must allow the rescission. c. must apply the preexisting duty rule. d. must not apply the preexisting rule or allow the rescission. ANSWER: A PAGE: 254 TYPE: = NAT: AACSB Reflective AICPA Legal CHAPTER 12: CONSIDERATION 129 B8. Baked Goods Company agrees to supply Comida Caf with all the corn chips that it requires for a year. A sudden demand for ethanol results in a shortage of corn, and the price rises sharply. Baked Goods asks Comida to pay a higher price for the chips. This request is a. invalid as an attempt at extortion or the so-called holdup game. b. invalid under the preexisting duty rule. c. valid as a risk ordinarily assumed in business. d. valid due to the unforeseen difficulty of the sudden price increase. ANSWER: D PAGE: 254 TYPE: N NAT: AACSB Reflective AICPA Legal Fact Pattern 12-A3 (Questions A9CA11 apply) Cut-Rate Construction Company (CCC) begins building a restaurant for Diners Restaurants, Inc., but after two months demands an extra $100,000. Diners agrees to pay. A9. Refer to Fact Pattern 12-A3. If CCC offers no reason for the extra $100,000, but says only that it will otherwise stop construction, the agreement is a. enforceable as an accord and satisfaction. b. enforceable because of unforeseen difficulties. c. unenforceable as an illusory promise. d. unenforceable due to the preexisting duty rule. ANSWER: D PAGE: 254 TYPE: = NAT: AACSB Reflective AICPA Legal B9. Todos Ltd. agrees to supply United Steel, Inc., with minerals from Venezuela. When the government is unexpectedly overthrown in a revolution, Todos can obtain the goods only at a much higher price. United agrees to pay but later files a suit to recover the difference. The court will most likely rule that a. a change in government is a risk ordinarily assumed in business. b. an unforeseen difficulty supported the contract modification here. c. Todos engaged in extortion or the so-called holdup game. 130 TEST BANK AUNIT THREE: CONTRACTS AND E-CONTRACTS d. Todos had a preexisting duty to supply the goods at the initial price. ANSWER: B PAGE: 254 TYPE: N NAT: AACSB Reflective AICPA Legal Fact Pattern 12-A3 (Questions A9CA11 apply) Cut-Rate Construction Company (CCC) begins building a restaurant for Diners Restaurants, Inc., but after two months demands an extra $100,000. Diners agrees to pay. A10. Refer to Fact Pattern 12-A3. If CCC offers, as a reason for the extra $100,000, that ordinary business expenses have increased, the agreement is a. enforceable as an accord and satisfaction. b. enforceable because of unforeseen difficulties. c. unenforceable as an illusory promise. d. unenforceable due to the preexisting duty rule. ANSWER: D PAGE: 254 TYPE: = NAT: AACSB Reflective AICPA Legal B10. Superior-Plus Properties, Inc., and Topps Construction Company sign a contract that specifies the amount to be paid. Additional compensation may be justified by a. any business risks that occur after the time of the contract. b. changes in the market price of needed materials during the contract. c. extraordinary difficulties unforeseen at the time of the contract. d. no circumstances. ANSWER: C PAGE: 254 TYPE: + NAT: AACSB Reflective AICPA Legal Fact Pattern 12-A3 (Questions A9CA11 apply) Cut-Rate Construction Company (CCC) begins building a restaurant for Diners Restaurants, Inc., but after two months demands an extra $100,000. Diners agrees to pay. A11. Refer to Fact Pattern 12-A3. If CCC offers, as a reason for the extra $100,000, that extraordinary unforeseen difficulties will add consid- erable cost to the project, the agreement is a. enforceable as an accord and satisfaction. b. enforceable because of unforeseen difficulties. c. unenforceable as an illusory promise. d. unenforceable due to the preexisting duty rule. ANSWER: B PAGE: 254 TYPE: = NAT: AACSB Reflective AICPA Legal 132 TEST BANK AUNIT THREE: CONTRACTS AND E-CONTRACTS Fact Pattern 12-B1 (Questions B11CB12 apply) Sal contracts with Tasty Pizza Company to deliver its products. Both parties change their minds, however, and inform each other that they would like to cancel the contract. B11. Refer to Fact Pattern 12-B1. The next day, Sal changes her mind and again offers to deliver Tastys products. Tasty is willing to deal, but for a new price. Sal and Tasty a. may agree to a new contract, but it cannot include a new price. b. may agree to a new contract that includes the new price. c. must perform their original contract. d. must perform the part of their original contract that is executory. ANSWER: B PAGE: 254 TYPE: = NAT: AACSB Reflective AICPA Legal A12. Mary promises to pay her assistant Ned $10,000 in consideration of the services he provided over the years. Mary never pays Ned. Mary is a. liable for payment of the $10,000. b. liable only if Ned still works for Mary. c. not liable, because the consideration is in the past. d. not liable, because the consideration was unintentional. ANSWER: C PAGE: 256 TYPE: = NAT: AACSB Reflective AICPA Legal Fact Pattern 12-B1 (Questions B11CB12 apply) Sal contracts with Tasty Pizza Company to deliver its products. Both parties change their minds, however, and inform each other that they would like to cancel the contract. B12. Refer to Fact Pattern 12-B1. Sal and Tasty a. may rescind their entire contract. b. may rescind their contract to the extent that it is executory. c. must perform their entire contract. d. must perform the part of their contract that is executory. ANSWER: B PAGE: 254 TYPE: = A13. MicroCorp hires Nick to work for one month at a weekly salary of $400. A MicroCorp representative orally agrees two weeks later to double Nicks salary. This agreement is a. enforceable because an employment contract is an adhesion contract. b. enforceable because the parties have executed an accord and satisfaction. c. unenforceable because Nick has incurred no additional detriment in exchange for MicroCorps promise. d. unenforceable because Nicks performance is uncertain. ANSWER: C PAGE: 256 TYPE: = NAT: AACSB Reflective AICPA Legal B13. Speedy Assembly Company promises its employees a 10-percent raise at the end of the year if productivity has increased and management feels it is warranted. Speedy must a. do nothing. b. give the employees a 10-percent raise only at the end of the year. c. give the employees a 10-percent raise only if productivity increases. d. give the employees a 10-percent raise under any circumstances. ANSWER: A PAGE: 256 TYPE: N NAT: AACSB Reflective AICPA Legal A14. General Credit Corporations promise to pay its employees a year- end bonus if it seems like a good idea at the time is a. an enforceable contract. b. an illusory contract. c. an unconscionable contract. d. a unilateral contract. ANSWER: B PAGE: 256 TYPE: + NAT: AACSB Reflective AICPA Legal 134 TEST BANK AUNIT THREE: CONTRACTS AND E-CONTRACTS B14. Mei writes a check to Nat in an amount that represents half of her debt to him. On the back of the check, Mei includes the words payment in full. Nat cashes the check. This discharges the entire debt a. if the debt is liquidated. b. if the debt is past due. c. if the debt is unliquidated. d. under no circumstances. ANSWER: C PAGE: 258 TYPE: = NAT: AACSB Reflective AICPA Legal A15. XL Retail Sales, Inc., promises its salaried employees a bonus at the end of the year if management thinks it is warranted. This promise is a. enforceable. b. unenforceable because it is not supported by consideration. c. unenforceable because the dollar amount is missing. d. unenforceable because the employees are paid salaries. ANSWER: B PAGE: 256 TYPE: N NAT: AACSB Reflective AICPA Legal CHAPTER 12: CONSIDERATION 135 B15. George and Holly disagree as to the exact amount one owes the other. They form a new agreement that, on fulfillment, will discharge the prior obligation. This is a. a covenant not to sue. b. an accord and satisfaction. c. a release. d. promissory estoppel. ANSWER: B PAGE: 258 TYPE: = NAT: AACSB Reflective AICPA Legal A16. Ann is injured in an accident caused by Bob. Bob agrees to pay Ann $2,500 if she agrees to release Bob from further liability. Ann agrees. If Anns damages ultimately exceed $2,500, Ann can a. collect the balance from Bob in a breach-of-contract suit. b. collect the balance from Bob in a tort suit. c. collect the balance from Bob on the ground of unforeseen difficulties. d. not collect the balance from Bob. ANSWER: D PAGE: 258 TYPE: = NAT: AACSB Reflective AICPA Legal Fact Pattern 12-B2 (Questions B16CB17 apply) Dag and Enita are in an auto accident. Dag offers B $2,000 if Enita promises not to pursue her potential legal claim against Dag. Enita agrees. Later, Enita discovers that it will cost $1,500 to repair her car and $4,000 to cover the medical expenses for a latent injury. B16. Refer to Fact Pattern 12-B2. The agreement between Dag and Enita is a. a covenant not to sue. b. an accord and satisfaction. c. a release. d. promissory estoppel. ANSWER: C PAGE: 258 TYPE: N NAT: AACSB Reflective AICPA Legal 136 TEST BANK AUNIT THREE: CONTRACTS AND E-CONTRACTS A17. After an accident with a driver for General Transport Company (GTC), Paul signs a covenant not to sue GTC for damages in a tort action if it pays for the damage to his car. This covenant a. bars recovery only if GTC pays. b. is an illusory contract. c. is barred by the preexisting duty rule. d. is unconscionable. ANSWER: A PAGE: 258 TYPE: = NAT: AACSB Reflective AICPA Legal Fact Pattern 12-B2 (Questions B16CB17 apply) Dag and Enita are in an auto accident. Dag offers B $2,000 if Enita promises not to pursue her potential legal claim against Dag. Enita agrees. Later, Enita discovers that it will cost $1,500 to repair her car and $4,000 to cover the medical expenses for a latent injury. B17. Refer to Fact Pattern 12-B2. In Enitas suit against Dag to recover her repair and medical expenses, Enita will most likely recover a. half the amount to pay those costs over what Dag already paid Enita. b. nothing. c. the estimated amount to pay those costs and any other liability. d. the exact amount to pay those costs and no more. ANSWER: B PAGE: 258 TYPE: N NAT: AACSB Reflective AICPA Legal A18. Collection of EZ Sales Companys debt to First Storage Corporation is barred by a statute of limitations. A new promise by EZ to pay the debt a. may become enforceable if payments are made. b. must be in writing. c. requires consideration. d. will not revive the obligation. ANSWER: A PAGE: 259 TYPE: = NAT: AACSB Reflective AICPA Legal CHAPTER 12: CONSIDERATION 137 B18. Quinn promises to sell his recreational vehicle (RV) to Sid, who builds a structure behind his house in which to keep it. Quinns later attempt to renege on the promise is a. effective if Quinn did not ask Sid to build anything. b. effective if Quinn wants to sell the RV to someone else. c. not effective if Sid cannot obtain a similar RV for a similar price. d. not effective if Sid detrimentally relied on Quinns promise. ANSWER: D PAGE: 259 TYPE: = NAT: AACSB Reflective AICPA Legal A19. Auto Body Repair Shop (ABRS) promises to pay Ben $1,000 a week to work for ABRS. Ben accepts and quits his job with Car Care Service. ABRS fails to provide a job for Ben. Ben has a cause of action based on a. an illusory promise. b. a release. c. past consideration. d. promissory estoppel. ANSWER: D PAGE: 259 TYPE: = NAT: AACSB Reflective AICPA Legal 138 TEST BANK AUNIT THREE: CONTRACTS AND E-CONTRACTS B19. Milo files a suit against National Corporation under the doctrine of promissory estoppel. Milo must show that a. Milo justifiably refused to fulfill a promise to National. b. Milo justifiably relied on Nationals promise to his detriment. c. National justifiably refused to fulfill a promise to Milo. d. National justifiably relied on Milos promise to its detriment. ANSWER: B PAGE: 259 TYPE: = NAT: AACSB Reflective AICPA Legal A20. Betty pledges to donate $1,000 to the Childrens Hospital. On the basis of the pledge, the hospital orders additional equipment. Betty reneges on the pledge. The hospital sues Betty. If the court enforces the pledge, it will be a. because Bettys performance is uncertain. b. because of the unforeseen difficulties. c. because the pledge is a gift. d. under the doctrine of promissory estoppel. ANSWER: D PAGE: 260 TYPE: = NAT: AACSB Reflective AICPA Legal B20. Carl pledges $1,000 to the Disaster Relief Organization (DRO). On the basis of the pledge, DRO orders additional rescue equipment. Carl fails to pay. In DROs suit, a court may enforce the pledge a. according to the preexisting duty rule. b. as an illusory promise supported by past consideration. c. on a theory of accord and satisfaction. d. under the doctrine of promissory estoppel. ANSWER: D PAGE: 260 ...
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