Consideration Is Defined as Something of Value or Something Bargained

question 9

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) neither party may enforce the promise
• E) none of the other choices

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Definitions:

Immigration

The act of relocating to another country with the intention of living there indefinitely.

Marginal Benefits

The additional benefits received from consuming one more unit of a good or service.

Marginal Costs

The increase or decrease in the total cost that arises when the quantity produced is incremented by one unit.

Complementary Resources

Assets or inputs that, when used together, enhance the productivity or effectiveness compared to using each separately.