In the Case of Smith V

Multiple Choice

In the case of Smith v. Riley, referenced in the text, what did the court rule in regard to whether a purchase in the amount of "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 only because the sale of an interest in a lease was involved.
C) The Court ruled that the purchase amount was insufficient consideration only because a sale of goods was involved.
D) The Court ruled that the purchase amount was insufficient consideration 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.