Chapter 12 Flashcards
1
Q
What is consideration?
A
there must be bargaining that leads to an exchange between the parties.
2
Q
What is meant by measurable value?
A
some benefit to the other side, we can detect it
3
Q
what is bargained for?
A
must be a determination of what both sides want, once there is a discussion and agreement the court will not look at it, there was a give and take, a two way agreement
4
Q
what sort of “act” will serve as consideration?
A
bargained for act
