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6. What constitutes executory consideration?

  • When parties exchange promises to do something in the future
  • Where the contract has been executed
  • Where no consideration has been given and the contract is not enforceable

7. Executory consideration is found in bilateral contracts and once promises have been exchanged, the agreement is binding

  • True
  • False

8. What constitutes executed consideration?

  • Where consideration moves from the promisee
  • When a party has performed his part of the contract
  • Where the contract has been executed

9. Executed consideration is found in unilateral contracts

  • True
  • False