True with regard to the idea of consideration

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Reference no: EM131776337

1. "If Kate promises a stereo system to Uli, which of the following holds true with regard to the idea of consideration? "

A. Uli will not be able to enforce Kate's promise if he has not done anything in return.

B. Uli has to perform an act in return for Kate's promise.

C. Kate's promise should not be supported by consideration.

D. Uli's consideration should be an act and not a promise.

2. "Jin moves into a neighborhood in Philadelphia and opens a repair shop. He is harassed by the local gang leader who wants to extort money from him. He promises to pay Sheng, a police officer whose patrol includes Jin's store, $50 a week to ""keep an eye on the store"" while walking his patrol. Which of the following statements is true of this situation? "

A. Jin's promise is enforceable.

B. The cop can sue Jin for not keeping his promise of paying $50 per week.

C. Sheng's promises toward Jin are not consideration.

D. Jin is the promisee and Sheng is the promisor.

3. "On January 1, 2006, Bev owed City Bank $5,000 on her car loan. The loan was due in May 2006. On January 1, 2006, Bev sent the bank a check for $4,800 marked ""In full payment for any and all claims City Bank has against me."" City Bank cashes the check. Under these circumstances, _____. "

A. City Bank can sue Bev for $200

B. "City Bank has not promised to accept the payment as ""payment in full"""

C. Bev can avoid paying the $200

D. Bev has not given consideration

Reference no: EM131776337

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