Contracts binding without consideration include promises to pay debts barred by a statute of limitations and debts discharged in bankruptcy.

Name: Contracts binding without consideration include promises to pay debts barred by a statute of limitations and debts discharged in bankruptcy.
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Question

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Certain promises, such as those to pay debts barred by a statute of limitations or debts discharged in bankruptcy, can be enforceable without consideration due to specific legal exceptions.

Contracts Binding Without Consideration Include Promises to Pay Debts Barred