The courts generally inquire into the adequacy of consideration.

An agreement to settle an earlier contract that was in dispute is:

Consideration can best be described as:

Usury laws are concerned with:

The adult party to a contract with a minor has the option of choosing whether to enforce the contract.

Generally speaking, a minor must return goods or property he or she has received from the adult in the condition it is in at the time of disaffirmance.

An exculpatory clause releasing a white water adventure rafting company from liability for all injuries it causes is:

Julie buys an auto from John when she is 17. When she turns 21, Julie decides that she does not want the automobile. The age of majority in Julie’s state is 18. Can Julie disaffirm this contract?

The courts have very broad powers to enforce or not enforce certain types of contracts. Which of the following statements best describes this power?

Two friends, Ann and Mary, are having margaritas at happy hour. There had been no discussion of who would pay for the drinks. After the third round of drinks, Ann said, “I will pay for everything tonight including your drinks.” A couple of minutes later, Ann says, “I’ve changed my mind. I just remembered that they might be having layoffs at my job tomorrow.” Mary wants to force Ann to perform on her promise and threatens to sue. In this circumstance, a court would: