A cash payment of $1 given to support a gift promise cannot support a contract.
Correct Answer:
Verified
Q14: Money is a common form of consideration
Q15: The presumption that contracts are supported by
Q16: A contract in which the seller agrees
Q17: The imposition of a best efforts clause
Q18: A preexisting duty can arise from a
Q20: An agreement where a party gives up
Q21: The nonperformance of an accord is called
Q22: When a seller promises a buyer to
Q23: Which of the following constitutes legal consideration?
A)
Q24: A compromise agreement is referred to as
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