The Term Consideration Refers to the Voluntary Consent of All

question 16

True/False

The term consideration refers to the voluntary consent of all of the parties to a contract.

---

Definitions:

Official Exchange Rate

The official exchange rate is the rate at which a country's central bank will exchange its currency for foreign currency.

Agreement

An agreement is a mutual understanding or arrangement between two or more parties, often legally binding, about their rights and responsibilities regarding a particular deal or situation.

Dollar Strengthened

A condition where the U.S. dollar increases in value compared to other currencies in the global market.

Foreign Currencies

Currencies used in a country other than one's own, involved in foreign exchange trading and international transactions.