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Use the table below to answer the following questions.
Table 4.2.3
-Refer to Table 4.2.3.Aggregate income equals
Gratuitous
Referring to something given without expecting anything in return, often related to acts of kindness or voluntary transactions without compensation.
Preexisting Duty
A legal concept indicating that if someone is already legally obligated to perform a certain action, that action cannot be used as consideration for a new contract.
Consideration
The value (such as money, goods, or services) that is given in exchange for a contractual promise or action.
Consideration
The value, such as money, promised, given, or done that induces a party to enter into a contract.
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