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:

Establish and Enforce

The process of setting up rules or principles and ensuring their observance by applying penalties for violations.

Authoritative Parents

Parents who are both demanding and responsive, they set clear standards for their children but also encourage independence and are attentive to their needs.

Legalistic

Adhering strictly to the letter or strict interpretation of the law or rules, often disregarding the spirit or intention behind them.

Permissive

A parenting or management style characterized by low demands with high responsiveness.