Enforce agreement due to insufficient consideration

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Reference no: EM132179218

1. Although the courts seldom consider the adequacy of consideration, they may refuse to enforce an agreement which purports to exchange something of significant value for something of nominal value (sometimes called “a peppercorn”). If the courts don’t care about the adequacy of consideration, then how can they refuse to enforce an agreement due to insufficient consideration?

2. Long Beach post of ce has 7 tellers from Monday through Saturday. Customers’ arrival is a Poisson process, and the arrival rate is 36 customers per hour. The service time is exponen- tially distributed with mean 10 minutes. a. What is the utilization rate of the tellers? b. What is the average number of customers waiting in line?

Reference no: EM132179218

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