Regarding Consideration, the Following Questions Can Help Determine Whether There

Multiple Choice

Regarding consideration, the following questions can help determine whether there is a contract rather than a gratuitous promise: 1. Is the consideration past consideration?
2) Is the proposed consideration legal?
3) Is there consideration flowing in both directions?
4) Does it have value in each direction?
5) If not, is there an exception?

A) Numbers 1 to 5 are vital, no exceptions.
B) Numbers 1 and 2 are optional, but a failure in 3 or 4 can be saved by 5.
C) Numbers 1 to 4 are vital, 5 is optional.
D) Numbers 1 and 2 are vital, but a failure in 3 or 4 can be saved by 5.
E) Any one of numbers 1 to 5 determine there is a contract.