In a sales contract, the seller and purchaser have agreed to prorate the country property taxes. The closing takes place on April 25 and the annual property taxes of $1475 have not been paid. The seller's share of the taxes would be.

Which of the following constitutes legal consideration?

A) A promise based upon a change in duties and payments B) A promise based upon past consideration C) A promise based upon a moral obligation D) A promise based upon a preexisting duty E) A promise to make a gift

White Forest Financials is a small investment firm, operating in an extremely volatile environment

One of the company's two owners, David White, is of the opinion that it would be futile for the company to engage in formal planning as the business environment is constantly shifting. However, the co-owner, Marsha Forest, believes that planning is essential for the company's success. Whom would you support? Why? What will be an ideal response?