Asked by Daman Preet Dhillon on May 21, 2024
Verified
The court will never look at adequacy of consideration as long as at least one party has given some detriment.
Adequacy Of Consideration
Refers to the fairness of the bargain in a contract, ensuring that what is exchanged holds reasonable value.
Detriment
A loss or harm suffered as a result of an action or decision.
- Grasp the concept of adequacy of consideration and its relevance in court evaluations of contracts.
Verified Answer
BK
Brissa KorynnaMay 27, 2024
Final Answer :
False
Explanation :
The court generally does not evaluate the adequacy of consideration, meaning it does not assess whether what one party has given is of equal value to what they have received. The focus is on whether there is a bargain or exchange, not on the fairness of the exchange. However, in cases of fraud, duress, or unconscionability, the court may consider the adequacy of consideration.
Learning Objectives
- Grasp the concept of adequacy of consideration and its relevance in court evaluations of contracts.
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