Asked by Keyla Ortiz on May 16, 2024
Verified
To satisfy the consideration requirement to form a contract,the consideration exchanged by the parties must:
A) have a monetary value.
B) conform to the parties' subjective intent.
C) have legal value.
D) have approximately the same value.
Consideration Requirement
A fundamental principle in contract law that requires both parties involved in a contract to exchange something of value for the agreement to be legally binding.
Legal Value
Consideration or a benefit recognized by the law that supports a contract's enforceability.
- Analyze the legal requirements for consideration in various types of contracts, including unilateral and bilateral contracts.
Verified Answer
MN
Mario NietoMay 21, 2024
Final Answer :
C
Explanation :
Consideration is legal value,bargained for and given in exchange for an act or promise.
Learning Objectives
- Analyze the legal requirements for consideration in various types of contracts, including unilateral and bilateral contracts.
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