The Consideration Element of a Contract States That

question 22

Multiple Choice

The consideration element of a contract states that

• A) A contract must be intended to accomplish a legal purpose.
• B) A contract must include a legitimate offer and a legitimate acceptance.
• C) Something of value must be exchanged between the two parties.
• D) The parties entering into a contract must have the capacity to do so.

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Definitions:

Straight-Ranking

A method of performance evaluation where employees are compared to each other and ranked in a simple list format.

Forced Distribution

A performance management system where employee evaluations are distributed along a bell curve, forcing rankings among an employee population.

Performance Feedback

The process where an individual's work performance is assessed and communicated back to them, usually by a supervisor or peer, to improve and develop their professional capabilities.

Differing Perspectives

Variations in viewpoints or opinions among individuals or groups on a particular issue.