Aaron questions whether there is consideration for his contract with Banquet Hall to exchange his musical performance of country tunes at select social events for Banquet's payment of a certain amount. To constitute consideration, the value of whatever is exchanged must be
A) objectively worthy
B) precisely adequate.
C) legally sufficient.
D) practically sound.
C
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The United States Securities and Exchange Commission
a. has recognized IASB standards as an acceptable alternative to U.S. GAAP. b. requires foreign companies listing their shares on U.S. stock exchanges to restate their financial statements to U.S. GAAP. c. has barred foreign companies from listing their shares on U.S. stock exchanges. d. has no jurisdiction in the United States over foreign companies listing their shares on U.S. stock exchanges.
If no performance is rendered at all under a contract, then the damages will be the loss of value of the promised performance
a. True b. False Indicate whether the statement is true or false
All of the following are reasons why mutual insurance companies convert to stock insurance companies EXCEPT
A) Stock companies can offer stock options to attract and retain key personnel. B) Stock companies can raise new capital more easily. C) Stock companies are exempt from state insurance regulation. D) Stock companies offer greater flexibility to expand through acquisitions.
An attachment to a will that alters or amends a portion of the will is called a
A) proxy. B) codicil. C) letter of last instructions. D) revocation. E) none of the above.