Contract Questions

Past consideration is effective to bind a present

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Unformatted text preview: rges the original contract. John is obligated to pay the additional $1,000. b. Under the UCC, the substitute contract is binding, because there is the payment of additional money. c. d. William is in breach of contract. John need not pay any additional money. William is under a pre-existing moral duty to perform at the originally agreed upon price. 567. William recently sold his successful business to Janice. The contract for the sale contained an unreasonable restriction that did not allow William to open a similar business for 15 years. The courts would, in this instance, a. delete the unreasonable portions of the contract. b. require the parties to draft a new contract. c. enforce the contract as it is written. d. make the entire contract voidable by William. 568. a. b. c. d. Within the law of consideration, which of the following is a correct statement of law? The UCC does not change the common law in any major respects. Past consideration is effective to bind a present promise. A promise...
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This test prep was uploaded on 03/29/2014 for the course BUL 3130 taught by Professor Schupp during the Fall '12 term at UNF.

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