Which of the Following Statements Is True About the Consideration

question 99

Multiple Choice

Which of the following statements is true about the consideration in a contract?

• A) Courts usually enforce contractual promises in the absence of consideration.
• B) The amount of the consideration is the most important and relevant part of a contract for a legal action.
• C) The consideration must be contemporaneous and a part of both parties' understanding of the contract terms.
• D) The consideration in any unilateral contract is usually absent.
• E) Performance made before parties discuss their agreement counts as a consideration.

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Definitions:

Employees

Individuals who work for another person or company in exchange for financial or other compensation.

Suppliers

Entities or individuals that provide goods or services to another entity, typically within a supply chain context.

Capitalism

An economic system where private individuals own and control the means of production and distribution of goods, with minimal government interference.

Socialism

An economic and political system where the government or the public as a whole owns and controls the means of production, aiming for an equitable distribution of wealth and resources.