Asked by Karmel Abdeljalil on May 18, 2024
Verified
Uncle Joe promises Mary a new car on her birthday.Uncle Joe's promise constitutes legally sufficient consideration.
Legally Sufficient Consideration
Value that the law recognizes as adequate to form a binding contract, typically involving an exchange of goods, services, or promises.
- Become familiar with the concept and categories of legally valid consideration pertaining to contract law.
Verified Answer
KJ
kelly JohnsonMay 24, 2024
Final Answer :
False
Explanation :
Consideration in a legal context refers to something of value exchanged between parties in a contract. A mere promise of a gift, like a new car for a birthday, without something in return from Mary, does not constitute legally sufficient consideration.
Learning Objectives
- Become familiar with the concept and categories of legally valid consideration pertaining to contract law.