Concerning consideration, which of the following is a true statement? A. Promises in Requirements Contracts are not illusory, even though such contracts do not specify an exact quantity of goods to be purchased. B. The inadequacy of consideration is usually a good basis to avoid a contract. C An Exclusive Dealing Contract is one type of contract which is lusory, because it lacks consideration, D. Moral obligations and consideration given in the past can usually be used to support the consideration element in a current exchange QUESTION 7 Sue offers to buy a house from john and they were negotiating the price of the house. In the meantime, Sue confides in john's wife that she is willing to pay an amount of 550.000 for the house. Delighted to hear this. John's wife tells him the good news, John immediately calls up Sue and accepts her offer. Is there a binding contract? A Yes, because there is valid consideration B. Ves, because a third party has communicated the terms of Sue's offer to john and that john had accepted the same. . No, because the offeror had not communicated the terms of the offer to the offeree D. No, because the contract is still not signed by both the parties