Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In the following video, the judge must decide whether the situation presented by the two parties existed with adequate consideration. If consideration existed, then a

In the following video, the judge must decide whether the situation presented by the two parties existed with adequate consideration. If consideration existed, then a contract would exist and be enforceable. However, if there was no meeting of the minds and consideration did not exist, then the judge cannot make the defendant pay the plaintiff for the services rendered. Consideration is required in every contract. It is what a person will receive in return for performing a contract obligation. Suppose Dan agrees to purchase Marty's car for $1,000. Dan's payment of $1,000 is the consideration Marty will receive for the car. Title to and possession of the car are the consideration Dan will receive in exchange. Consideration can be anything, as long as it is the product of a bargained-for exchange. In a business context, it is often (but not always) money. Watch the video below all the way through, then answers the questions that follow. How do the plaintiff and defendant know each other? Multiple Choice They played music together for years. They were gambling buddies. They were co-workers. They were strangers before court. They played on a sports team together.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Commercial Energy Auditing Reference Handbook

Authors: Steve Doty

3rd Edition

1498769268, 978-1498769266

More Books

Students also viewed these Accounting questions

Question

6. Compare and contrast immune neglect and the focusing illusion.

Answered: 1 week ago