Which of the Following Statements Is TRUE

Multiple Choice

Which of the following statements is TRUE?

A) 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.
B) Promissory estoppel can be used as a sword but not as a shield.
C) Consideration is unnecessary as long as the word "seal" was printed on a form that a contractual party read.
D) Because of the significance of the privity of contract doctrine, exceptions can only be created by the legislature, and not by the courts
E) Consideration can never consist of a promise to perform a pre-existing obligation.