What factors are used to judge if consideration is adequate to ensure a fair bargain? Choose 2 answers. a)Promises exchanged may not be a preexisting duty. b)Items or promises exchanged must be of nearly equal value. c)Consideration must be a promise to pay money. d)Promises must be made with voluntary consent.
What factors are used to judge if consideration is adequate to ensure a fair bargain? Choose 2 answers. a)Promises exchanged may not be a preexisting duty. b)Items or promises exchanged must be of nearly equal value. c)Consideration must be a promise to pay money. d)Promises must be made with voluntary consent.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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What factors are used to judge if consideration is adequate to ensure a fair bargain? Choose 2 answers.
a)Promises exchanged may not be a preexisting duty.
b)Items or promises exchanged must be of nearly equal value.
c)Consideration must be a promise to pay money.
d)Promises must be made with voluntary consent.
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