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Ch 10 quiz bus lawA painter refuses to finish painting Charles's house unless Charles pays him an extra $100 beyond
the agreed contract price. Charles does not have to pay the extra money because this is an example
of - ✔✔preexisting duty
An illusory promise is sufficient consideration for unilateral contracts but not bilateral contracts. -
✔✔false
As a friend and a CPA, Lara agrees to do Cliff's taxes for free. Lara does his taxes and as an
expression of gratitude, Cliff promises to pay Lara $200. Lara cannot enforce the promise because
this is an illustration of - ✔✔past consideration
Consideration must be - ✔✔the product of a bargained for exchange
For a liquidated debt, the plaintiff must show actual, tangible evidence to prove his or her legal
damages. - ✔✔False
How often do courts weigh whether or not you made a good bargain? - ✔✔seldom
If the parties dispute the amount of money owed, the debt is a(n) __________ debt. -
%
✔✔unliquidated
In a unilateral contract, one party's consideration is the promise and the other party's consideration in
return is also a promise. - ✔✔false
Item 11
If an employer offers an employee a bonus for the great work the employee did over the past 3 years
and then refuses to pay the bonus, why can't the employee enforce payment? - ✔✔illusionary
promise
Item 16
Which of the following is not a requirement for an accord and satisfaction to be enforceable? -
✔✔The debt is liquidated.
Jason's promise to fix Karl's car if he ever gets an electric car jack is an illustration of: - ✔✔valid
consideration
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