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BUSA 690 (31)
Lecture 4

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Business Admin
BUSA 690
Peter Younkin

- Which of the following statements is TRUE?  none of the above - A gratuitous promise  all of the above - Patricia and Charlie entered into a written agreement. Patricia promised to pay $5000 to Haden, who is Charlie's brother. Charlie placed his seal on the document, but Patricia did not do so. Three days later, Charlie promised that he would design a new computer program for Bethany, Patricia's sister, in exchange for Patricia's promise. Which of the following statements is the most accurate?  Patricia's promise is not enforceable because it was not given in exchange for consideration - Because he was in love with her, Noriel promised to sell his car to Marina for $500. At the time of that agreement, Marina stressed that the deal was purely commercial and made it clear that she did not share Noriel's hopes for an intimate relationship. Before the sale was performed, Noriel fell in love with another woman, Valerie. He therefore now refuses to transfer the car to Marina. The actual market value of the car is $7500. Which of the following statements is TRUE?  none of the above - In exchange for Miles' promise to pay $10 000 to the Society for Prevention of Cruelty to Animals, Fran promised to give up eating meat for one year. Which of the following statements is TRUE?  The facts demonstrate a mutual exchange of value - Which of the following statements is TRUE?  The courts generally do not require adequate consideration because they believe that each person can look after their own interests by deciding how much to demand under a contract - Mohana promised Ian that she would pay $10 000 to him on his birthday. Ian gave nothing in exchange for that promise and neither party placed their seal on the document containing Mohana's promise. Ian demanded payment on his birthday. Mohana refused, primarily on the basis that she had recently
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