Which statement is true regarding illusory promises?
A)Illusory promises are not consideration.
B)Illusory promises qualify as consideration only when promissory estoppel is at issue.
C)Illusory promises qualify as consideration only when past consideration is at issue.
D)Illusory promises are consideration.
E)Illusory promises are consideration only when a sale of goods is involved.

Question

Quizplus · Accepted Answer

A)An illusory promise is not a promise at all and is not consideration.
B)An illusory promise is not a promise at all and is not consideration.
C)An illusory promise is not a promise at all and is not consideration.
D)An illusory promise is not a promise at all and is not consideration.
E)An illusory promise is not a promise at all and is not consideration.

Which Statement Is True Regarding Illusory Promises