16. What legal term describes the receiving of something of value by each party in a contract?

Group of answer choices

Equitable subrogation

Consideration

Novation

Meeting of the minds

Promissory estoppel

17. Which of the following indicates a unilateral contract?

Group of answer choices

A promise is made by only one party to the contract

Each individual involved in the contract has liability that is separate from the others.

Subject matter cannot violate any fundamental dictates of common law.

The terms of the agreement are not clearly stated but are established through inference and deduction by one party.

Each party agrees to the basic meaning and legal implications of the contract.

18. Which of the following is NOT one of the five elements of a contract?

Group of answer choices

Privity of contract

Lawful subject matter

Offer and acceptance

Consideration

Competent parties

19. The right of a public entity to force the sale of land from a private owner is called ________.

Group of answer choices

Dedication

Prescription

Eminent domain

Condemnation

Right-of-way

Justifiable acquisition

20. The public can gain use of privately held land by various means. What is the term used to describe the hostile acquisition that leads to title transfer based on eminent domain?

Group of answer choices

Dedication

Right-of-way

Prescrition

Condemnation