1. A promise worded so that it does not create or increase your legal obligation is said to be.
2. Termination clauses always make a contract invalid for lack of consideration TRUE OR FALSE
3. Output clauses are made enforceable through the courts imposing the duty of on the parties.
4. If you already owe a duty, that duty cannot be used as consideration. TRUE OR FALSE
5. Past consideration is not binding consideration. TRUE OR FALSE
6. When there is a dispute over the amount owed, a subsequent agreement stipulating that amount and promising its payment is
referred to as a(n) A) accord, B) satisfaction C) output contract
7. Deb Tore let her credit card debt get out of hand and ended up owing 11 card companies more than $35,000. Knowing that Deb could
not pay the full amount due, the card companies conferred with one another and offered to reduce their total claims to $17,500, if she
would not seek to discharge the amounts owed through bankruptcy. She agreed. What is such a group of creditors called? What
consideration binds each credit card company to the agreement?