Stefan gave a cheque for $500 to his daughter,Monique,as a birthday present.Because Monique did not give any consideration in exchange for her birthday present,Stefan's bank will not honour the cheque.

Question

Quizplus · Accepted Answer

This statement is incorrect. A gift is a valid consideration and Stefan's bank should honor the cheque unless there are other issues such as insufficient funds in the account.

Stefan Gave a Cheque for $500 to His Daughter,Monique,as a Birthday