The Presumption That Contracts Are Supported by Consideration May Be

question 62

True/False

The presumption that contracts are supported by consideration may be overcome by sufficient evidence.

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Definitions:

Input Price

The cost associated with purchasing the raw materials, labor, and other resources required to produce goods and services.

Quantity Supplied

The amount of a good that producers are willing and able to sell at a certain price over a specified period of time.

Supply

The total amount of a good or service that producers are willing and able to sell at a given price over a specific time period.

Buyers and Sellers

Participants in a market who exchange money for goods or services, where buyers provide the money and sellers provide the goods or services.