35.In relation to the law of contract, which of the following statements about consideration is correct?

(2.5 Points)

A. It must be executory

B. It must be adequate

C. It must be sufficient

D. It must be past

36.What are the problems in the traditional way of litigation?

(2.5 Points)

A. Time consuming

B. Decision not enforceable

C. Too confusing

D. Impartial judges

37.What are the advantages of negotiations?

(2.5 Points)

A. Cheap

B. Involves judges

C. Chances of an outcome is very high

D. The decision can be appealed

38.Which of the following is a characteristic of a tribunal?

(2.5 Points)

A. It is a specialized court

B. It is very expensive

C. There are tribunals in every area of law

D. Decision cannot be appealed

39.Which of the following correctly states the main difference between arbitration and litigation?

(2.5 Points)

A. It is cheaper to settle the dispute through arbitration

B. Unlike the traditional courts, arbitration is subject to the strict law of evidence

C. Arbitration is preferred in cases involving large companies because they do not want any publicity that may arise from the case

D. Only minor cases are heard in arbitration unlike the traditional courts