Indicate the incorrect statement about consideration. a. In a bilateral contract, the exchange of promises can provide
Question:
Indicate the incorrect statement about consideration.
a. In a bilateral contract, the exchange of promises can provide consideration for both parties.
b. The common law holds that consideration must be adequate to insure that contracts are fair bargains. c. Consideration is "the price for which the promise (or the act) of the other is bought."
d. An altered course of action, e.g. forbearance, may be a good consideration.
e. In a unilateral contract, the performance of the offeree provides consideration to the offeror.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Question Posted: