The Concept of Consideration in Contract Law Includes

question 66

Multiple Choice

The concept of consideration in contract law includes:

• A) that each party to a contract must unintentionally exchange a legal benefit.
• B) an inducement to each party to make a return exchange.
• C) that each party takes out an insurance bond if the possibility of damages is above $500.
• D) All of these.

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Definitions:

Analytic Thought

Thought that results from analysis, such as a systematic ranking of pros and cons, risks and consequences, possibilities and facts. Analytic thought depends on logic and rationality.

Intuitive Thought

Thought that arises from an emotion or a hunch beyond rational explanation, and is influenced by past experiences and cultural assumptions.

Egocentrism

Piaget’s term for children’s tendency to think about the world entirely from their own personal perspective.

PL94-142

Also known as the Education for All Handicapped Children Act of 1975, it mandates public schools to provide free and appropriate education to children with disabilities.