In theHamer v. Sidwaycase cited in the textbook, the New York Court of Appeals concluded that:

Multiple Choice

• Consideration is not required to enforce an otherwise valid, bargained-for exchange.
• A benefit to the promisor constitutes valid consideration, but a detriment to the promisee does not constitute valid consideration.
• Forbearance is sufficient consideration for a valid and enforceable contract.
• A detriment to the promisee constitutes valid consideration, but a benefit to the promisor does not constitute valid consideration.
• Forbearance does not satisfy the consideration requirement for a valid and enforceable contract.