In Terms of Contract Law,consideration Means ________

question 10

Multiple Choice

In terms of contract law,consideration means ________.

• A) mental capacity
• B) something of real value
• C) minor status
• D) duress
• E) acceptance

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Definitions:

Global Market

A market that transcends national borders, encompassing worldwide commerce and trade.

Franchising

A method of distributing products or services involving a franchisor, who establishes the brand’s trademark or trade name and a business system, and a franchisee, who pays a royalty and often an initial fee for the right to do business under the franchisor's name and system.

Licensing

The act of granting permissions to individuals or entities to use patented or copyrighted material, trademarks, or technology owned by another party, under agreed terms and conditions.

Variation

Differences in products, services, or processes that distinguish them from others in the same category.