buisness

a person who recieves a gift

a promise not to do something

a person who promises an action or forbearance

a token amount of money given as consideration

a leagal concept that distinguishes between social promises and serious transactions

a change in a party's legal position as a result of a contract

a transfer of owenership without reviecing anything in reutrn

a person to whom a promise is made

The most common form of legal value

a person who gives gifts

if a promise is given for consideration will it be binding

if a contract contains a termination clause for any reason is the promise to preform illusory

if a contract clause allows termination only after a change in defined circumstances is the promise illusory

does an output contract require a seller to supply all the needs of a particular buyer

can a party terminate a requirements contract by stopping production

a contract exist if an underage driver promised hir or her parents not to drive

can a debtor settle a claim by paying less than the full amount and promising additional consideration?

does the debtor have to agree not to file for backruptcy in a composition of creditors

if two gifts have legal value, are they considereation when they are promised

can an act that has already been performed serve as consideration

promises are enforced under the doctrine of promissory estoppel
True False

promises can be enforced if the promisor knew that the promisee would reply on the promise
True False

promises can be enforced even if the promisee does not act in reliance on the promise

promises that involve a minimal economic loss to the promisee are always enforced
True False

most courts will enforce a promise made to a charitable organization even if no specific use for the money is stated
True False

the statute of limitations for most states is three years

an indicidual cannot sure for the breach of contract or tort when the statute of limitations has passed

a promise to leave an offer open is enforceable under common law
True False

merchants are bound by firm offers for up to three months
True False