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Figure 8-3 The Femur
Use Figure 8-3 to answer the following questions:
-Identify the structure labeled "12."
Pre-existing Duty
A legal concept where a party's promise to perform a duty that is already owed under the law or under a pre-existing contract is not considered sufficient consideration for a new contract.
Statute of Limitations
Laws setting the maximum period one can wait before filing a lawsuit, depending on the type of claim or crime.
Unilateral Contract
A contract in which only one party makes a promise or undertakes a performance, while the other party must act to trigger the obligation.
Legally Sufficient Consideration
Value that the law recognizes as adequate to support a contract, ensuring that each party agrees to give or do something of value.
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