Examlex
Parents often consider school reputation when deciding about where to buy or rent a home.Does research evidence support this as a valid reason for making this decision?
Reasonable Value
A fair market price or level of compensation that would be deemed equitable under normal circumstances.
Gratuitous Promise
A promise for which no consideration is given or required in return, often unenforceable without a deed or under specific legal conditions.
Consideration
In contract law, consideration refers to the value (such as money, a service, or a promise) that is given in exchange for a contractual obligation from the other party.
Illusory Contract
An agreement that fails to bind one party due to vague or unenforceable terms, making it appear to be a contract only in illusion.
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