Consideration Must Provide the Basis for the Bargain Struck Between

question 29

True/False

Consideration must provide the basis for the bargain struck between contracting parties.

---

Definitions:

Voidable

A legal term referring to a contract or transaction that may be deemed invalid by one party, though it remains valid until annulled.

Fraudulent

Deceptive or dishonest behavior intended to result in financial or personal gain.

Innocent Misrepresentation

A false statement made by someone who believes it to be true, without intent to deceive.

Intentional Fraud

Deliberate deception to secure unfair or unlawful gain, or to deprive a victim of a legal right.