
Cengage Advantage Books: Introduction to Business Law 4th Edition by Timothy Koch, Jeffrey Beatty, Jeffrey Beatty, Susan Samuelson, Susan Samuelson
Edition 4ISBN: 978-1133709107
Cengage Advantage Books: Introduction to Business Law 4th Edition by Timothy Koch, Jeffrey Beatty, Jeffrey Beatty, Susan Samuelson, Susan Samuelson
Edition 4ISBN: 978-1133709107 Exercise 10
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
Courts seldom inquire into the adequacy ...
Cengage Advantage Books: Introduction to Business Law 4th Edition by Timothy Koch, Jeffrey Beatty, Jeffrey Beatty, Susan Samuelson, Susan Samuelson
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