Asif Wanted to Buy a Football Immediately

question 26

Short Answer

Asif wanted to buy a football immediately.He placed an order on Duke.com,an online portal for sports goods,and dropped in at its nearest physical store to collect it.This scenario is an example of__________.

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Definitions:

Preexisting Duty Rule

A legal principle stating that performing a duty that one is already legally obligated to do is not sufficient consideration for a new contract.

Illusory Promise

A statement that appears to be a promise but does not actually bind the party to any commitment or obligation.

Redistribution of Wealth

A process or policy aimed at adjusting the distribution of wealth within a society, usually by transferring wealth from the richer to the poorer segments.

Consideration

Something of value exchanged between parties as part of a contract.