Consideration Is Defined as Something of Value or Something Bargained

question 493

Multiple Choice

Consideration is defined as something of value or something bargained for in exchange for a promise. Normally, if consideration is absent:

• A) only the offeree may enforce the promise
• B) only the offeror may enforce the promise
• C) either party may enforce the promise
• D) the value of the exchange fails to meet the "market value" test
• E) none of the other choices

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Definitions:

Hydraulic Fracturing

The use of high-pressure fluids and sand to open up fractures in limited-permeability reservoir rocks in order to extract oil and gas.

Shale Gas

Natural gas that is found trapped within shale formations, which are fine-grained sedimentary rocks.

Directional Drilling

Drilling within a targeted shale body to permit hydraulic fracturing.

Maturation Of Coal

The process through which plant material is converted into coal over millions of years, increasing in carbon content and energy.