Explain forbearance to sue as it relates to consideration.

What will be an ideal response?


Forbearance occurs when someone promises not to file a legal suit in exchange for a promise to pay a certain sum of money or some other consideration. The promise not to file suit is valid consideration because the promisor has given up a legal right, the right to sue. In order for forbearance to be valid consideration, the promisee must in good faith believe he or she has a valid claim.

Business

You might also like to view...

Part-time paid employees who work exclusively for the company are a part of the ________ salesforce

A) direct B) virtual C) contractual D) implicit E) brokered

Business

Which of the following is a source document for materials?

a. Vendor's invoice b. Materials request c. Receiving report d. All of these

Business

In the early days of word processing, material was input into the system by _____________________

A. Word processing originators B. Word processing secretaries C. Word processing technicians D. Word processing specialists

Business

A synonym for professionalism is A) hard skills

B) social acceptance. C) business etiquette. D) diversity.

Business