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MisconceptionObserved in bank

Freedom To Renegotiate Ignores Consideration

This trap appears as a wrong-answer choice in 1 active question. Spotting how it is built is the repair: read each example's “why it's attractive” before the “why it's wrong.”

Subject distribution

  • Contracts1

Example wrong choices

  • 22486_tutors-renegotiate · CONTRACTS · Choice BYes, because Barnabas voluntarily agreed to the higher rate and received the benefit of their continued tutoring.

    Why it's attractive

    Barnabas agreed and received a benefit, but the benefit was already owed under the original contract.

    Why it's wrong

    Barnabas agreed and received a benefit, but the benefit was already owed under the original contract.

  • 22486_tutors-renegotiate · CONTRACTS · Choice CNo, because Barnabas agreed to the higher rate while under economic duress.

    Why it's attractive

    The facts describe pressure, but the preexisting duty rule is the more direct bar.

    Why it's wrong

    The facts describe pressure, but the preexisting duty rule is the more direct bar.

  • 22486_tutors-renegotiate · CONTRACTS · Choice DYes, because the parties are free to renegotiate a contract when circumstances change.

    Why it's attractive

    Parties can renegotiate, but the modification still needs new consideration.

    Why it's wrong

    Parties can renegotiate, but the modification still needs new consideration.

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