Ulties unfor esee n at the time of the contr act

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ulties unfor esee n at the time of the contr act. Question 11 5 out of 5 points In contract law, "consideration" refers to the time that a party takes to evaluate a deal. Ch. 12: Contracts: Consideration - No. 18 Clarkson et al.’s Business Law (11th ed.)
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Selected Answer: False Question 12 5 out of 5 points An obligation is enforceable only if it is supported by past consideration. Selected Answer: False Question 13 5 out of 5 points A bargained-for exchange is one of the elements of consideration. Selected Answer: True Question 14 5 out of 5 points A promise to do something that one has a prior legal duty to do is not consideration. Ch. 12: Contracts: Consideration - No. 19 Clarkson et al.’s Business Law (11th ed.)
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Selected Answer: True Question 15 5 out of 5 points Any promise made with respect to a past event is enforceable because the event is certain--it has already occurred. Selected Answer: False Question 16 0 out of 5 points Promises to pay debts barred by a statute of limitations are not enforceable due to the absence of consideration. Selected Answer: True Question 17 5 out of 5 points Ch. 12: Contracts: Consideration - No. 20 Clarkson et al.’s Business Law (11th ed.)
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Todos Ltd. agrees to supply United Steel, Inc., with minerals from Venezuela. When the government is unexpectedly overthrown in a revolution, Todos can obtain the goods only at a much higher price. United agrees to pay but later files a suit to recover the difference. The court will most likely rule that Ch. 12: Contracts: Consideration - No. 21 Clarkson et al.’s Business Law (11th ed.)
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Selected Ans wer: an unfor esee n diffic ulty supp orted the contr act modi ficati on here. Question 18 5 out of 5 points A covenant not to sue is the substitution of a contractual obligation for a legal action. Ch. 12: Contracts: Consideration - No. 22 Clarkson et al.’s Business Law (11th ed.)
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Selected Answer: True Question 19 5 out of 5 points If a promise is made, it will be enforced. Selected Answer: False Question 20 0 out of 5 points Coverage, Inc. (CI), coordinates an insurance network that includes 1 million potential patients. By contracting with CI, a medical provider gains access to the network in exchange for accepting payments at lower than market rates. Doctors, Inc., contracts with CI but, when few patients are forthcoming, files a suit to recover the difference between the contract and market rates. The court will most likely rule that the contract is Ch. 12: Contracts: Consideration - No. 23 Clarkson et al.’s Business Law (11th ed.)
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Selected Ans wer: not enfor ceabl e beca use the contr act lacks consi derat ion. Ch. 12: Contracts: Consideration - No. 24 Clarkson et al.’s Business Law (11th ed.)
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