Ch_12_StudyQ - 5 What is an illusory promise 6 Discuss...

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Chapter 12 S TUDY Q UESTIONS 1) What is consideration? i) What are the elements of consideration? 2) What is “adequacy of consideration”? 3) Can a preexisting duty satisfy the requirements of consideration? 4) What are some of the exceptions to the preexisting duty rule?
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Unformatted text preview: 5) What is an illusory promise? 6) Discuss agreements to settle claims or discharge debts. 7) What are some of the circumstances in which promises will be enforced despite the lack of what one normally considers consideration?...
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