快速查题-ACCA英国注册会计师试题

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 Performance of an existing legal obligation is valid consideration for the promise of additional reward 

 Performance of an existing contractual duty is sufficient consideration for the promise of additional reward

Performance of an existing contractual duty to a third party is sufficient consideration for the promise of additional reward 

 Performance of an extra service in addition to an existing contractual duty is not sufficient consideration for the promise of additional reward 

 Privity of contract means only parties to a contract may sue on it 

 Privity of contract is not subject to regulation by statute 

 There are no exceptions to the rule of privity of contract 

 Privity of contract is only enforceable on commercial contracts 

The third party need not be expressly identified in the contract 

 The third party need not be in existence when the contract was formed 

 The Act confers rights to third parties under a company's constitution 

 The Act confers rights to third parties under employment contracts 

Consideration can be in the form of any act, even if that act is impossible to perform

Performance of an illegal act is valid consideration

Past consideration is sufficient to create liability on a bill of exchange

Suffering some loss or detriment is not valid consideration

 Providing goods in return for payment at the same time 

A promise of payment in return for the provision of goods at a later date 

A promise to pay for work already carried out 

 Courts will seek to ensure that consideration from each party is of equal value 

 Courts will seek to ensure no party makes excess profit 

 Courts will not interfere in a contract to rectify a bad bargain 

Consideration does not need to have a value to be sufficient 

 Consideration is sufficient if it has some economic value 

Consideration does not need to be sufficient but must be adequate 

 Third parties to a contract generally have enforceable rights under it 

 Only parties to a contract generally have enforceable rights under it 

 Privity of contract only relates to rights under a contract, not obligations 

 A third party to a contract can sue for losses they incur under a contract if the losses are foreseeable

 A third party to a contract can bring an action under it if an implied trust has been created 

 A third party to a contract can enforce rights under it if it is equitable for them to do so