Which of the Following Is True of Consideration

question 4

Multiple Choice

Which of the following is true of consideration?

• A) Consideration is not required in bilateral contracts
• B) Consideration is not required in unilateral contracts
• C) Consideration is required in all contracts
• D) Consideration is never required
• E) Consideration is valid only if it is part of an equal exchange

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Definitions:

Third Party

Any individual or group who is not a primary participant in a transaction, contract, or legal situation but may be impacted by its results.

Dispute

A disagreement or conflict between parties that may involve a fight, battle, or a legal case.

Solution Imposition

Refers to enforcing a specific solution or decision on an issue, often without the consent of all parties involved.

Collective Agreement Operation

The process by which the terms and conditions of employment are negotiated and enforced between an employer and a representative group of employees.