Business_Law_chap_9_practice_questions

Business_Law_chap_9_practice_questions - Alfred, a hunting...

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Ben Quach Business Law chap 9 practice questions John, in a barroom brawl, broke James’s arm. James brought suit against John for damages. Before the case came to trial, John offered to give Grady a $500 more, payable in 30 days, as full settlement for all claims James had against John. James accepted this offer. When the note came due, John refused to pay, claiming t hat there was no exchange of benefits and no consideration. a) Is John correct in his claim that consideration was lacking? No b) Could James action in dropping the suit be regarded as consideration? Yes c) Is forbearance a form of consideration? Yes
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Unformatted text preview: Alfred, a hunting enthusiast, frequently shot birds in his own and his neighbors backyard in violation of city ordinance that prohibited guns being discharged within the city limits. The neighbor offered to pay Alfred $100 if he would refrain from shooting birds for one year. At the end of the year, the neighbor refused to pay, claiming that there was no consideration. a) Will Alfred succeed in collecting the $100? No b) Is there consideration present in this agreement? No c) Is a barren promise acceptable consideration? No...
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This note was uploaded on 09/14/2011 for the course BUSI 2301 taught by Professor Jefferyhirt during the Spring '11 term at Lone Star College System.

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