Examlex
You arrive ten minutes late for your final exam and immediately regret stopping for donuts, which feel like a dead weight in your stomach. Your heart is pounding and your palms are sweaty. What part of your nervous system is in control?
Consideration
Something of value exchanged between parties in a contract, making the agreement legally binding.
Adequacy of Consideration
An evaluation of whether the value exchanged between parties in a contract is reasonably fair at the time of the agreement.
Bargained-for Exchange
An essential principle of contract law involving the mutual exchange of promises or consideration between parties entering an agreement.
Legal Sufficiency
The adequacy of evidence or legal grounding in an agreement, claim, or defense that meets minimum legal standards to proceed or withstand scrutiny in a court of law.
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