Consideration Flashcards
1
Q
Consideration in contract example (2)
A
Date to finish job
Compensation
2
Q
If there is no consideration, there is no _
A
Contract
3
Q
If you buy Apple, Apple is your consideration and _ is merchants consideration
A
Money
4
Q
Each party’s consideration must be _
A
Equivalent in value
5
Q
Without consideration, contract is not legally binding and cannot _
A
Be enforced in court
6
Q
Forbearance means, one party agrees to refrain from exercising a legal right such as _
A
Pursuing lawsuit
7
Q
Refrain from pursuing lawsuit in exchange for _
A
Something of value
(Forbearance)
