4. In deciding whether the consideration needed for a valid contract exists, it must be determined whether

A. The consideration is of sufficient value

B. The consideration meets the objective intent test

C. The consideration is consistent with that provided in other, similar contracts

D. Both parties to the contract received consideration.

5.Mega Drug Co. is interested in buying Acme Drug Co. because Acme is developing a new drug treatment for Covid-19. In discussing the potential sale, Acme's representatives show Mega's representatives test results for the drug, which indicate that it successfully cures all symptoms of the virus. Mega subsequently contracts to buy Acme for $10 million. Afterward, Mega discovers that Acme falsified the test results that were shown previously to Mega, and that the drug actually has no effect on the virus. Mega can rescind the contract based on

A. Mistake of value

B. Undue influence

C. Fraud

D. Illegality of subject

6.Moe emails an offer to Larry to buy Larry's car for $12,000. Later, Moe decides he doesn't want the car, and he begins writing an email to Larry that says he withdraws his offer. Moe is interrupted by a phone call before he finishes typing this email. When Moe returns to his computer, he sees an email from Larry, accepting his offer to buy the car. Which of these statements is correct?

1. There is a binding agreement to buy the car.
2. There is no binding agreement, because Moe had already begun to withdraw his offer.
3. There is no binding agreement, because the offeror always has the ability to reject the offeree's acceptance.
4. There is an agreement, but it is voidable by Moe.