Asked by
Celeste Trujillo
on Nov 29, 2024
Verified
Which of the following is not correct with regard to consideration?
A) In a unilateral contract, a promise is exchanged for an act or forbearance to act.
B) In a bilateral contract, there is an exchange of promises.
C) Legal sufficiency is always related to adequacy of consideration.
D) Consideration can be a legal detriment.
Legal Sufficiency
The measure of whether a legal document or action meets the minimum requirements of the law to be enforceable.
Bilateral Contract
An agreement where each of the two parties makes a promise or set of promises to the other, creating mutual obligations.
- Gain an understanding of the notion of consideration in the context of contract law, along with its essential criteria and relevance.
- Understand the key factors that constitute a legally binding agreement, including the presence of a negotiated exchange and the adequacy under the law.
Verified Answer
RJ
Learning Objectives
- Gain an understanding of the notion of consideration in the context of contract law, along with its essential criteria and relevance.
- Understand the key factors that constitute a legally binding agreement, including the presence of a negotiated exchange and the adequacy under the law.
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