When does a promise constitute consideration

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Reference no: EM131094362

1.When does a promise constitute consideration?

2.May a promise that is conditional constitute consideration?

3.What is the general rule about the adequacy of consideration?

4.What is a composition of creditors?

5.Is there consideration when a secured note for a lesser amount is given and accepted in discharge of an unsecured note for a greater amount? Explain.

6.George agrees to remodel a kitchen for Harry for $30,000, but after beginning work asks Harry to pay $34,000. Can George enforce Harry's new promise to pay $34,000?

7.If a boy promises his father that he will not own and operate an automobile until he is eighteen in exchange for his father's promise to pay him $2,000, is there a valid contract?

8.Is a promise to pay a debt discharged by bankruptcy enforceable? Explain.

9.Under what theory will courts enforce a promise to pay a voluntary subscription?

10.When will courts apply the doctrine of promissory estoppel?

Reference no: EM131094362

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