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Cengage Advantage Books: Essentials of Business Law 5th Edition by Jeffrey Beatty,Susan Samuelson
Edition 5ISBN: 978-1285427003Cengage Advantage Books: Essentials of Business Law 5th Edition by Jeffrey Beatty,Susan Samuelson
Edition 5ISBN: 978-1285427003 Exercise 9
Ted's wallet is as empty as his bank account, and he needs $3,500 immediately.
Fortunately, he has three gold coins that he inherited from his grandfather.
Each is worth $2,500, but it is Sunday, and the local rare-coin store is closed. When approached, Ted's neighbor Andrea agrees to buy the first coin for $2,300. Another neighbor, Cami, agrees to buy the second for $1,100. A final neighbor, Lorne, offers "all the money I have on me"-$100-for the last coin. Desperate, Ted agrees to the proposal. Which of the deals is supported by consideration (a) Ted's agreement with Andrea, only
(b) Ted's agreements with Andrea and Cami, only
(c) All three of the agreements
(d) None of the agreements
Fortunately, he has three gold coins that he inherited from his grandfather.
Each is worth $2,500, but it is Sunday, and the local rare-coin store is closed. When approached, Ted's neighbor Andrea agrees to buy the first coin for $2,300. Another neighbor, Cami, agrees to buy the second for $1,100. A final neighbor, Lorne, offers "all the money I have on me"-$100-for the last coin. Desperate, Ted agrees to the proposal. Which of the deals is supported by consideration (a) Ted's agreement with Andrea, only
(b) Ted's agreements with Andrea and Cami, only
(c) All three of the agreements
(d) None of the agreements
Explanation
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T having three inherited gold coins from...
Cengage Advantage Books: Essentials of Business Law 5th Edition by Jeffrey Beatty,Susan Samuelson
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