Under Contract Law, Consideration Means Something of Value

question 64

True/False

Under contract law, consideration means something of value.

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Definitions:

Wealth Disparities

Refers to the significant differences in wealth (assets and income) among different groups, often analyzed by race, ethnicity, or socioeconomic status.

Financial Institutions

Organizations that provide financial services, such as banks, credit unions, stockbrokers, and insurance companies.

Economic-Based Affirmative Action

Affirmative action policies focused on improving opportunities for individuals from economically disadvantaged backgrounds, regardless of race or ethnicity.

William Julius Wilson

A prominent sociologist known for his work on urban sociology, race, and class in the United States.