Examlex
In avoiding conference committees party leaders have instead engaged in a process known as "ping pong" negotiations. Which of the following best describes this process?
Legally Sufficient Consideration
Consideration that is considered to be enough or adequate under the law for a contract to be binding.
Preexisting Duty
An obligation that one party already owes under the law or another agreement, which cannot serve as consideration for a new contract.
Cost of Doing Business
The total expenses incurred by a company in operating its business, including manufacturing, marketing, and administrative costs.
Adequacy of Consideration
The fairness of the value exchanged in a contract, ensuring that what is provided by each party is of comparable worth.
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