Examlex
The Heritage Bank is unaware of all the many tools available that will let marketers examine a firm's processes and identify potential areas for improvement.This firm wants to examine all of its goals,strategies and structure,to ensure it's on the right track and doing things well.The Heritage Bank has hired you as an outside consultant to recommend a plan of action.What do you suggest and why?
Preexisting Duty
An obligation that one party is already legally required to perform and cannot be used as consideration for a new contract.
Consideration
In contract law, consideration refers to something of value exchanged between parties as part of an agreement.
Preexisting Duty
A duty that already exists under contract law, which cannot be used as consideration for a new promise or contract.
Contract
A legally enforceable agreement between two or more parties with mutual obligations.
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