Which of the following statements is true of consideration?
Where a party accepts part payment for a debt, they may at a later date request payment of the amount outstanding unless the other party provided extra consideration when making the part payment.
Which TWO of the following are valid extra consideration for part payment of a debt?
(1) Payment in the form of goods rather than cash
(2) Payment by a third party rather than the debtor
(3) An intention by the debtor to be legally bound by the part payment
(4) A guarantee by the debtor to make the payment on the date agreed in the contract
Which of the following statements regarding consideration is correct?
Which of the following statements concerning privity of contract is correct?
The Contracts (Rights of Third Parties) Act 1999 sets out the circumstances where a third party has a right to enforce rights they may have under a contract.
Which of the following statements concerning the Contracts (Rights of Third Parties) Act 1999 is correct?
Which of the following is true regarding presumptions of intention to create legal relations?
Which TWO of the following social, domestic and family contracts would be presumed by the courts as intended to be legally binding?
(1) An agreement where a father offers to pay his daughter a monthly allowance if she continues her education
(2) An agreement between friends to enter a newspaper competition together and share any prizes between them
(3) An agreement between a husband and wife who have separated for one to rent the family home from the other
(4) An agreement by a son to pay his mother housekeeping money while he stays at home
Which of the following, in the context of entering into a contract, constitutes a binding offer to sell a unique item of furniture?
Which of the following statements in relation to effective consideration is correct?
Which of the following is a rule for valid consideration?