Examlex
Which perspective stresses the importance of social institutions for maintaining social stability?
Preexisting Duty
An obligation or duty that already exists under a contract, and performing it, therefore, does not constitute consideration for a new promise.
Law
Rules devised and applied by institutions of society or the government to modulate behavior.
Legally Sufficient Value
An acceptable form or measure of value that must be provided in a contract to make it binding and enforceable under law.
Consideration
Something of value (such as money, goods, services, or promised actions) that is exchanged between parties in a contractual agreement.
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