Asked by Harpreet Kaur Dhillon on Jun 16, 2024

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A legally sufficient consideration for a promise must be

A) legally detrimental to the promise.
B) legally beneficial to the promisor.
C) financially detrimental to both the promisee and promisor.
D) legally detrimental to the promisee or legally beneficial to the promisor.

Legally Sufficient

Describes evidence or information that meets the established legal standards to support a claim or decision in court.

Consideration

The exchange of something of value in return for the promise or service of another party, a fundamental component of a valid contract.

Promise

A declaration or assurance by one party to another that a particular action or condition will occur or be met, potentially forming the basis of a contractual obligation.

  • Grasp the concept of consideration and its significance in contract validity.
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Verified Answer

RM
Raquel MitraJun 19, 2024
Final Answer :
D
Explanation :
Consideration in a contract must involve either something of legal value being given in exchange for a promise, which can be either something that is legally detrimental to the promisee (they are giving something up or taking on an obligation) or legally beneficial to the promisor (they are receiving something of value or a benefit).