Examlex
Greg is trying to decide which brand of cereal to buy, but he is a somewhat confused by the health claims. Which statement represents the highest level of significant scientific agreement?
Preexisting Duty
An obligation that one party is already legally required to perform and cannot be used as consideration for a new contract.
Consideration
In contract law, consideration refers to something of value exchanged between parties as part of an agreement.
Preexisting Duty
A duty that already exists under contract law, which cannot be used as consideration for a new promise or contract.
Contract
A legally enforceable agreement between two or more parties with mutual obligations.
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