In the Smith V

Multiple Choice

In the Smith v.Riley case referenced in the textbook,how did the Tennessee Court of Appeals rule regarding whether a purchase for "the sum of One Dollar ($1.00) and other good and valuable consideration" was sufficient consideration to support an agreement?

A) The Court ruled that the purchase amount was sufficient consideration.
B) The Court ruled that the purchase amount was insufficient consideration,but only because the sale of an interest in a lease was involved.
C) The Court ruled that the purchase amount was insufficient consideration,but only because a sale of goods was involved.
D) The Court ruled that the purchase amount was insufficient consideration,but only because a domestic partnership was involved.
E) The Court ruled that the purchase amount was insufficient consideration because over $50,000 was at issue.