Multiple Choice
James had a contract with Frasier to fix a plumbing issue at Frasier's home. The contract was made for $3,000. After the work was completed, Frasier then refused to pay anything unless James agreed to accept $2,500. In the above scenario, to avoid legal nuisance, Frasier decides to compromise with James. He asks James to fix a tap in the barn for $250, and modify the current contract to include the tap in the barn. James agrees to this, and does as asked while Frasier remakes the contract. Which of the following would this kind of settlement be referred to as?
A) duress
B) past consideration
C) accord
D) mirror image rule acceptance
Correct Answer:

Verified
Correct Answer:
Verified
Q3: Poweroxi Inc. produces rocket propellant fuel that
Q4: Which of the following is true of
Q5: A gift promise is enforceable if the
Q6: James had a contract with Frasier to
Q7: A requirements contract is unenforceable due to
Q9: _ is a promise to refrain from
Q10: If the accord is performed, it is
Q11: With regard to unenforceable contracts, an extortion
Q12: A consideration need not be of legal
Q13: An accord is a compromise reached between