A completed gift promise cannot be rescinded for lack of consideration.
Correct Answer:
Verified
Q20: Which of the following is true of
Q21: Contracts based on illegal consideration are valid.
Q22: An illusory promise is an example of
Q23: A contract into which both parties enter
Q24: What is a gift promise? When can
Q26: Illusory promises require both parties to perform
Q27: Why does an illusory contract lack consideration?
A)
Q28: Dean Campenella is a detective with the
Q29: James had a contract with Frasier to
Q30: Preexisting duty promise is unenforceable because of
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