1. Which of the following statements about consideration is FALSE?
a. Agreeing not to sue someone can be consideration.
b. Love and affection is a valid form of consideration.
c. Consideration must be adequate, but it doesn’t have to be sufficient.
d. Past consideration is not really consideration at all.
2. Your neighbour cuts your grass without being asked. You are so delighted with the work that you call him to say that you will give him $100. When your neighbour comes to collect, you refuse to pay. Which of the following statement is most likely TRUE?
a. Your promise is not enforceable because lawn care does not have any objective value.
b. You are liable to pay, but the judge will decide on the amount.
c. Your promise is not enforceable because your neighbour’s work was past consideration.
d. You are liable to pay whatever amount your neighbour believes is appropriate.
3. Alberto and Bobbi created a contract. Alberto agreed to provide certain services and Bobbi agreed to pay $5,000. Before either party performed, Alberto demanded an additional $1,000. Bobbi promised to pay the extra amount. Which of the following statements is TRUE?
a. No contract existed unless and until both parties actually performed their promises.
b. Bobbi is required to pay the original price but not the extra amount.
c. Bobbi is required to pay $6,000 to Alberto.
d. Alberto must perform the services but Bobbi is not required to pay anything.
4. A legal concept that leads to the enforcement of a promise, even without an exchange of consideration, is called a
a. Seal.
b. Trust.
c. Substituted consideration.
d. Promise.
5. You rented an apartment from me for a monthly rent of $2,000. After you lose your part-time job, you explain that you cannot afford the full rent. I agree to lower your rent to $1,200 until you find another job. You thankfully agree to that arrangement. If I had not lowered the rent, you would have been required to find a roommate to share the rent. Two weeks later, however, I say that I changed my mind and I demand payment of the full rent. In response, you can rely on the doctrine of
a. Vicarious liability.
b. Quantum meruit.
c. Forbearance to sue.
d. Promissory estoppel.