Examlex
What makes the central route to persuasion distinct from the peripheral route?
Consideration
In a contractual agreement, it is the value or promise that each party agrees to exchange.
Promissory Estoppel
A legal principle that enables a party to recover on a promise made when they have reasonably relied on that promise to their detriment, even if a formal contract does not exist.
Illusory Contract
An agreement that fails to bind at least one of the parties due to the lack of a definite promise or because the terms allow for withdrawal without consequence.
Adequacy Of Consideration
The principle that the value exchanged in a contract must be fair and reasonable to both parties involved.
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