Examlex
Which of the following best describes location-based social networking sites?
Consideration
A legal concept referring to something of value exchanged between parties in a contract, making the agreement binding and enforceable.
Unforeseen Circumstances
Events that could not have been predicted or expected and may impact contractual agreements or obligations.
Preexisting Duty Rule
A legal principle that asserts no additional consideration is necessary to modify a contract when a party is already legally obligated to perform a duty.
Bilateral Contract
A type of agreement where both parties make a promise to each other to perform certain acts or refrain from performing certain acts.
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