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1. Which of the following statements regarding the adequacy and sufficiency of consideration is correct?
A Consideration does not need to have a value to be sufficient
B Consideration is sufficient if it has some economic value
C Consideration does not need to be sufficient but must be adequate (1 mark)
2.Which of the following is true regarding privity of contract?
A Third parties to a contract generally have enforceable rights under it
B Only parties to a contract generally have enforceable rights under it
C Privity of contract only relates to rights under a contract, not obligations
