An illusory promise is a promise that is enforceable without consideration.
Correct Answer:
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Q1: A release does not require consideration to
Q7: A transaction that lacks a bargained-for exchange
Q11: Risks ordinarily assumed in business do not
Q14: A promise to do what one already
Q16: In contract law,"consideration" refers to the courtesy
Q17: A promise to pay for an act
Q18: Parties are not generally free to bargain
Q29: If a debt is liquidated, an accord
Q30: A contract that one party retains the
Q38: A covenant not to sue is against
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