Examlex
Which of the following creates the need for someone to initiate communication?
Consideration
In contract law, consideration refers to the value (such as money, a service, or a promise) that is given in exchange for a contractual obligation from the other party.
Illusory Contract
An agreement that fails to bind one party due to vague or unenforceable terms, making it appear to be a contract only in illusion.
Probated
Referring to the legal process in which a will is reviewed to determine whether it is valid and authentic.
Option Contract
A contract that gives the holder the right, but not the obligation, to buy or sell an asset at a specified price within a specified period.
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