1. Which of the following is TRUE ?
A. Parties are not generally free to bargain as they wish.
B. Cour ts typically consider the adequacy of consideration.
C. Rescission is the dissolutio n of a contract that returns the parties to the positions they held before the contract.
D. Two parties can mutually agree to rescind a contract unless it is executory.
2. Which of the following is FALSE?
A. For consideration to have “legally sufficient value,” it must con sist of goods or money.
B. A promise by one party to pay another for refraining from an act is enforce able.
C. A transaction that lacks a bargained - for exchange lacks an element of consideration.
D. Risks ordinarily assumed in business do not constitute consideration for the modification of a contract.