Under Contract Law, Consideration Means Something of Value

question 64

True/False

Under contract law, consideration means something of value.

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Definitions:

Positivist Perspective

A view in sociology that relies on empirical evidence and scientific method to understand and explain social phenomena.

Observable Fact

Information or data that can be noticed or perceived directly through the senses or scientific instruments.

Constructionist Perspective

A theoretical approach that suggests reality is socially constructed through human interpretation and interactions, emphasizing the subjective meaning of phenomena.

Human Volition

The capacity or power of individuals to make choices and decisions with a sense of free will, uninfluenced by external forces.