Asked by
Rezan Yusuf
on Nov 21, 2024Verified
A promise to do something that you are already obligated to do is ________.
A) illusory consideration
B) valid consideration only in the employment context
C) past consideration
D) a preexisting duty
E) promissory estoppel
Preexisting Duty
An obligation that one party already legally owes to another under a contract, which cannot serve as consideration for a new contract.
Illusory Consideration
A promise or apparent agreement that lacks the actual commitment or substance to be legally enforceable as consideration in a contract.
- Determine the features and the possibility of enforcement of illusory promises within contractual agreements.
Verified Answer
LP
Learning Objectives
- Determine the features and the possibility of enforcement of illusory promises within contractual agreements.