Question: Your textbook identifies at least two major exceptions to the requirement of consideration. Select one correct exception to the requirement of consideration in contract. Question Answer a. Transactions that do not involve an interest in land b. Gratuitous promises made in writing c. Contracts where the expectations of the parties are reasonable d. Gratuitous promises that modify existing contract rights where the promise relies on the promise and incurs liabilities or expenses as a result e. Contracts where both parties exchange only promises