A Transaction That Lacks a Bargained-For Exchange Lacks an Element

question 48

True/False

A transaction that lacks a bargained-for exchange lacks an element of consideration.

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Definitions:

Post Hoc

Post hoc, short for "post hoc ergo propter hoc," is a logical fallacy that assumes a cause-and-effect relationship simply because one event follows another.

Ergo Propter Hoc

A logical fallacy meaning "therefore, because of this," suggesting a cause-and-effect relationship where none exists.

Fallacy

A mistaken belief, especially one based on unsound arguments or logical errors.

Fallacy Of Composition

The erroneous belief that what is true for the individual is necessarily true for the group as a whole.