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Question
Don wants to exchange his performance for Earl's promise. As consideration, performance that is legally sufficient may consist ofa. an act only.
b. a forbearance from an act only.
c. an act or a forbearance from an act.
d. none of the above.
Answer
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Related questions
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Fact Pattern 41-1
Adam, a director of Beta Computer Company, learns that a Beta engineer has developed a new, significantly faster computer chip. Adam buys Beta stock and tells his friend Cathy, who also buys Beta stock. When the new chip is announced three weeks later, Adam and Cathy sell their stock for a big profit.
Refer to Fact Pattern 41-1. Regarding Adam's profits on the purchase and sale of Beta stock, under Section 16(b) of the Securities Exchange Act of 1934 Beta may recapture
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Fact Pattern 41-1
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