1. What is an accord and satisfaction.Why do we have to be aware of this in the business environment?

1. What agreements may be enforceable by a court of law even though they lack consideration?

1. Kyle is driving home from college one day and notices a puppy running along the side of the road.Kyle makes a nice retrieve and takes the puppy home.At school the next day Kyle gets a call and takes the puppy to the home of the caller, Gretyl.Gretyl thanks Kyle and sends him on his way.Later that night, Kyle discovers an ad in the local paper offering $200 for the lost puppy.

Can Kyle collect the $200 from Gretyl?

1. Julie owed Brandy $1,800 for a tanning bed that Brandy had sold her.Julie is running low on cash so she writes Brandy a check for $1,200 and on the memo line writes paid in full.Brandy cashed the check and calls Julie to ask for the other $600.

Must Julie pay the $600 to Brandy?

1. What is an illusory promise.As a future business major graduate, what steps can you take to "make absolutely certain" that a contract you are asked to sign in your professional career does not contain an illusory promise?