Courts Will Sometimes Enforce Contracts When a Small Amount of Consideration

question 17

Short Answer

Courts will sometimes enforce contracts when a small amount of consideration, such as $1, is given for a promise. This small sum of money is called ____________________.

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Definitions:

Corporate Income Taxes

Taxes imposed on the net income of corporations.

Federal Tax Revenues

The income received by the government from taxpayers, including individuals and corporations, used to fund public services and operations.

Cognitive Therapy

A form of psychotherapy that aims to change patterns of thinking or behavior that are causing people's psychological problems.

Behavior Modification

A therapeutic approach that applies principles of learning to change undesirable behaviors into positive behaviors.