business law test bank 15
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business law test bank 15
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1. Consideration is optional in every contract. True False 2. in a bilateral contract, the consideration for a promise is a completed act. True False 3. An exception to the rule requiring consideration is promissory estoppel. True False 4. An illusory promise is not a consideration True False 5. As a general rule, past consideration qualifies as con- sideration. True False 6. In some cases, if past consideration was given with expectation of future payment, the court may enforce the promise True...
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