Quiz 6 - A promise A promise to make a gift is enforceable...

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promise    A promise to make a gift is enforceable.  Student Response Value Correct Answer False  100%  False Score: 4/4    2. completed gift   A completed gift cannot be rescinded for lack of consideration.  Student Response Value Correct Answer True  100%  True Score: 4/4    3. consideration   A promise by a coat factory to pay $0.25 per button for any buttons that it orders from the  ABC Button Company constitutes consideration  Student Response Value Correct Answer True  0%  False Score: 0/4    4. total debt    If a merchant receives and cashes a check for partial payment of a debt and the check  bears the notation that the amount is in full payment of a disputed sum, the total debt is  released.  Student Response Value Correct Answer True  100%  True Score: 4/4   
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5. promissory estoppel    The doctrine of promissory estoppel cannot be applied if there is no consideration for the  promise which was relied upon.  Student Response Value Correct Answer False  100%  False Score: 4/4    6. "illegal contract"   It generally is incorrect to use the phrase "illegal contract" because, if an agreement is  illegal, the courts do not recognize it as a contract and the agreement is void.  Student Response Value Correct Answer False  0%  True Score: 0/4    7. issuance of securities    When a law forbids the issuance of securities or notes by certain classes of corporations,  a person who has purchased them may not recover the money paid.  Student Response Value Correct Answer False  100%  False Score: 4/4    8. unlawful   A contract is not in itself unlawful if one of the parties intends to make unlawful use of the  subject matter of the contract, a fact known by the other contracting party.  Student Response Value Correct Answer True  100%  True Score: 4/4   
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9. merchant sellers   In the case of merchant sellers, good faith is defined as "honesty in fact and the 
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Quiz 6 - A promise A promise to make a gift is enforceable...

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