Contract Questions

Is not adequate consideration is adequate

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Unformatted text preview: formed the audit, Jet discovered that Parr had violated State B’s licensing statute by failing to obtain a CPA license in State B. Parr incurred $10,000 in expenses in connection with the audit. jet refuses to pay any fee to Parr, arguing that it could have engaged a local CPA licensed in State a. b. c. d. B to perform the same services for $35,000 (including expenses). If Parr sues Jet based on breach of contract, Parr will be entitled to recover a maximum of $0. $10,000. $35,000. $50,000. 365. a. b. c. d. e. Past consideration is only sufficient when the promisor is over 18. is generally considered liquidated. is not adequate consideration. is adequate consideration if there is no duress. none of the above. 366. Payne entered into a written agreement to sell a parcel of land to Stevens. At the time the agreement was executed, Payne had consumed alcoholic beverages. Payne’s ability to understand the nature and terms of the contract was not impaired. Stevens did not believe that Payne was intoxicated. The contract is a. void as a matter of...
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