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