Which of the following are examples of consideration?
A. A benefit to the promisor.
B. A promise to do something.
C. Both a benefit to the promisor and a promise to do something.
D. An accepted offer.
E. A valid counteroffer.
A. A benefit to the promisor.
B. A promise to do something.
C. Both a benefit to the promisor and a promise to do something.
D. An accepted offer.
E. A valid counteroffer.
In a bilateral contract, the consideration for each promise is ____.
A. A completed act
B. The beginning of action in acceptance, even if it is not complete
C. An acknowledgement
D. A return promise
E. An agreement
A. A completed act
B. The beginning of action in acceptance, even if it is not complete
C. An acknowledgement
D. A return promise
E. An agreement
In a unilateral contract, the consideration for a promise is ____.
A. Action
B. A return promise
C. An acknowledgement
D. Consideration
E. An agreement
A. Action
B. A return promise
C. An acknowledgement
D. Consideration
E. An agreement
Which of the following is an exception to the rule requiring consideration?
A. Promissory agreement
B. Promissory estoppel
C. Quasi estoppel
D. Quasi agreement
E. Promissory performance
A. Promissory agreement
B. Promissory estoppel
C. Quasi estoppel
D. Quasi agreement
E. Promissory performance
Which of the following occurs when three conditions are met: one party makes a promise knowing the other party will rely on it; the other party does rely on it; the only way to avoid injustice is to enforce the promise?
A. Promissory agreement
B. Promissory estoppel
C. Quasi estoppel
D. Quasi agreement
E. Promissory performance
A. Promissory agreement
B. Promissory estoppel
C. Quasi estoppel
D. Quasi agreement
E. Promissory performance
What did the court rule in the case in the text, Labriola v. Pollard Group, Inc., regarding whether the noncompete agreement at issue in the case was enforceable?
A. The court ruled that the noncompete agreement was enforceable because the employee received independent consideration for it in the form of increased wages.
B. The court ruled that the noncompete agreement was enforceable because the employee received independent consideration for it in the form of a fixed term of employment.
C. The court ruled that the noncompete agreement was enforceable because the employee received independent consideration for it in the form of a promotion.
D. The court ruled that the noncompete agreement was not enforceable because the employee did not receive the consideration agreed upon.
E. The court ruled that the noncompete agreement was not enforceable because of lack of consideration.
A. The court ruled that the noncompete agreement was enforceable because the employee received independent consideration for it in the form of increased wages.
B. The court ruled that the noncompete agreement was enforceable because the employee received independent consideration for it in the form of a fixed term of employment.
C. The court ruled that the noncompete agreement was enforceable because the employee received independent consideration for it in the form of a promotion.
D. The court ruled that the noncompete agreement was not enforceable because the employee did not receive the consideration agreed upon.
E. The court ruled that the noncompete agreement was not enforceable because of lack of consideration.
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