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The professor announced the first day of class: "Students are not good at meeting deadlines.I guarantee you that someone will email me the day after a due date and ask if I will accept a paper for partial credit." Yesterday the first paper was due in the professor's class.He just checked his email and a student inquired whether the paper could be turned in for partial credit today.This is an example of
Adequacy Of Consideration
The fairness or sufficiency of what one party receives in return for what they provide in a contract.
Fair Bargain
An agreement between parties that is equitable and just, where each party receives a benefit in exchange for what is given.
Enforce Promises
The legal ability to ensure that agreements or commitments are carried out, often through contract law.
Adequacy Of Consideration
Evaluation of whether the value exchanged in a contract is fair and sufficient, although the law often requires only some value to be exchanged.
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