Which of the following is sufficient and valid consideration: Question 28 options: a. Performing what one is already obligated to do. b. Refraining from doing what one has no right to do. c. Past performance. d. Accepting a secured note in discharge of an unsecured note for a greater amount..com. com

d. Accepting a secured note in discharge of an unsecured note for a greater amount

Explanation:

Consideration refers to something payable for performance or non performance of an act as per a valid agreement. In simple terms, it refers to an exchange of value between parties. The essential features of consideration being,

Consideration does not require that both parties gain an equal value. Thus, accepting a secured note in discharge of an unsecured note for a greater amount would constitute a valid consideration.