Consideration Is the Inducement to Make a Promise Enforceable

question 72

True/False

Consideration is the inducement to make a promise enforceable.

---

Definitions:

Meals

The food that is prepared and served, typically at regular occasions or times during the day, such as breakfast, lunch, or dinner.

Budgets

Detailed plans that outline expected income and expenditures over a specific period, often used by individuals, organizations, or governments to manage finances.

Marginal Rate

The rate at which one quantity changes relative to a change in another quantity.

Substitution

The economic principle where consumers replace pricier items with less expensive alternatives when prices rise or their purchasing power decreases.