The Lack or Failure of Consideration Is a Personal Defense

question 50

True/False

The lack or failure of consideration is a personal defense and can be used to avoid payment to ordinary holders.

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Definitions:

Alternative Solutions

Refers to various options or methods available for solving a problem or achieving an objective.

Crowdsourcing

Crowdsourcing involves obtaining ideas, services, or content by soliciting contributions from a large group of people, especially an online community.

Crowdsourcing

A sourcing model in which individuals or organizations obtain goods and services, including ideas, voting, or funding, from a large, relatively open, and often rapidly-evolving group of internet users.

Contracting

Engaging in a formal agreement between two or more parties, often related to employment, services, or sales.