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​Match the Commonly Used Abbreviation with Its Meaning

question 34

Multiple Choice

​Match the commonly used abbreviation with its meaning.
-​Discontinue


Definitions:

Preexisting Duty

A duty that already exists under contract law, which cannot be used as consideration for a new promise or contract.

Contract

A legally enforceable agreement between two or more parties with mutual obligations.

Consideration

The value (which could be in the form of goods, services, or money) exchanged between parties in a contract, making the agreement legally binding.

Legally Sufficient Consideration

A value or benefit that is recognized by law, which is exchanged between parties as part of a contract.

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