Consideration Exchanged for a Promise Does Not Require Both Legal

question 71

True/False

Consideration exchanged for a promise does not require both legal detriment to the promisee and legal benefit to the promisor.

---

Definitions:

Foreign Exchange Risk

The potential for losses due to fluctuating foreign exchange rates affecting investments or transactions in foreign currencies.

Loan Repayment

The process of paying back borrowed money to the lender, typically in regular installments over a set period.

Interest Rate

The percent of principal charged by the lender for the use of its money, or the amount earned on deposited funds.

Loan Liability

A financial obligation representing money borrowed that must be repaid, with interest, to the lender.