Which of the following best describes the term "consideration"?
A) It refers to the record of a case sent for review to a higher court.
B) It indicates what the promisor demands and receives as the price for a promise.
C) It signifies a promissory note given by the promisor as a token of the transaction.
D) It refers to the promisor refraining from meeting a promise.
Correct Answer:
Verified
Q10: As a general rule, a promise must
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Q12: Consideration is not necessary to support an
Q13: Consideration distinguishes mere agreements from legally enforceable
Q14: As a general rule, the adequacy of
Q15: When parties to a contract mutually agree
Q16: As a general rule, a promise must
Q17: The Uniform Commercial Code states that when
Q18: Generally, a part payment of a past-due
Q19: If the supposed consideration consists merely of
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