An Agreement That Lacks Consideration

question 7

Multiple Choice

An agreement that lacks consideration:

• A) is void as against public policy.
• B) is not enforceable, and thus cannot be performed.
• C) is enforceable only if in writing.
• D) will be enforced only against the party who gave consideration.
• E) will not be an enforceable contract, but may be enforced under the theory of promissory estoppel.

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Definitions:

Breach of Contract

A violation of any of the agreed-upon terms and conditions of a binding contract without a legitimate legal excuse.

Legally Binding

Describes agreements or contracts that are enforceable by law, where parties are obligated to fulfill their terms.

Express Written Contract

A contract that is explicitly set down in writing and signed by the parties involved, detailing the terms and conditions.

Unequivocal

Clear and unambiguous, leaving no room for doubt or confusion.