Consideration Must Have a Value That Is Recognised by the Law

question 29

True/False

Consideration must have a value that is recognised by the law.

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Definitions:

Breach Of Contract

Failing to carry out any stipulation of a contract, regardless of it being written or oral, without a lawful excuse.

Mental Incapacity

A condition where an individual is unable to understand the nature and consequences of their actions, often affecting their ability to enter into legal agreements or make informed decisions.

Lease Agreement

A contract between a lessor and lessee that grants the lessee rights to use a property owned by the lessor for a specified period in return for payment.

Oil Exploration

The process of searching for oil deposits, often involving geological surveys and drilling.