Consideration can be defined as the value for given in return for a promise such as: a. Money b. Services c. Forbearance from a legally permissible act d. Goods e. All of the above f. a, b & d only Connie Construction agrees to build your building for $100,000. Halfway through construction Connie asks you for another $100,000. Desperate to get your building open and no time or money to get another contractor you agree to pay the $100,000. Is the contract for the 2nd $100,00 valid? a. No, the 2nd agreement was based on a pre-existing duty from the 1st contract. b. No, the agreement lacked consideration. c. Yes, because Connie defended the 100,000 extra payment due to unforeseen circumstance in the construction project. d. a& b only e. A, B And C are correct Verizon cannot tell you have to pay a debt from 10 years ago because it is barred by the statute of limitations. A True or B. False However, you can consent to pay the 10 year old claim even if it is beyond the statute of limitations. A True or B false. You call in to the Jerry Lewis telethon and pledge a charitable contribution of $1000,00. You to pay your pledge. Can you be forced by a court to pay the $1000,000? a. Yes b. No You are a child actor and were emancipated at 16. Can you lease a car? A. Yes B. No You hate your daughter finance and you offer to pay him 50,000 not to marry your daughter the contract valid? A. Yes or B no A bilateral mistake by both parties means that the contract can be rescinded by either A. True or B False The statute of frauds requires certain types of contracts to be in writing. A, true b. false