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Ch. 8 Business Law

Bates, Deputy

Types of Consideration

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Across
1.A payment offered in full settlement by the debtor and accepted by a creditor settles the claim.
6.The discharge agreement is termed a.
7.To not do something.
10.Transfer of ownership with out receiving anything in return.
12.Supply of all the needs of a particular buyer.
13.The person giving the gift.
14.The person receiving the gift.
15.A person promising an action or forbearance.
16.The person ot whom the promise is made is.
17.Purchase of a particular producer's production.
Down
2.Accept less than what they are entitled to, in full satisfaction of their claims against a debtor. In return, the debtor agrees not to file for bankruptcy.
3.Monetary consideration. (Deed)
4.Specifies a time limit for bringing a lawsuit once you become aware of a legal claim.
5.Change in parties legal position as a result of the contract.
8.What a person demands and generally must receive.
9.Prevents promisors from stating in court they didn't receive consideration for their promises.
11.Where the parties agree that the debt exists and on the amount of the debt.

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