Asked by Albatool Ahmed on May 22, 2024

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Which of the following is adequate consideration?

A) A preexisting duty
B) Agreement to settle an unliquidated debt
C) A preexisting moral obligation
D) Nominal consideration

Unliquidated Debt

A debt for which the exact monetary value has not been determined, often due to the nature of the claim or disputes over the amount.

Preexisting Duty

A legal concept referring to a duty that a party is already legally obliged to perform, which cannot serve as consideration for a new contract.

Adequate Consideration

A value that is fair and reasonable under the circumstances for both parties involved in a contract, not necessarily equal in monetary terms but sufficient to support the agreement.

  • Recognize the elements that constitute legal consideration and discern them from those that are inadequate or nonexistent.
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Gianna CanizioMay 25, 2024
Final Answer :
B
Explanation :
A good faith dispute about either the existence or the amount of a debt makes the debt an unliquidated debt.The settlement of an unliquidated debt is called an accord and satisfaction.