If a Contract That Was Lacking in Consideration Is Performed

question 45

True/False

If a contract that was lacking in consideration is performed by the parties, the parties cannot subsequently assert lack of consideration to undo the performed contract.

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Definitions:

Medical Necessity

A legal and medical determination that a service or treatment is reasonably necessary for the diagnosis or treatment of illness or injury.

Insurance Carriers

Companies that provide insurance policies, offering protection against financial losses stemming from various risks.

Insurance Coverage

A contractual agreement in which an insurer agrees to compensate or protect an insured party against specified losses or damages in exchange for a premium.