Examlex
Which one of the following would not be a good use of a home equity loan?
Nominal Consideration
A token amount in a contract to acknowledge the agreement, without intending it to be a true reflection of the value exchanged.
Gratuitous Promises
Promises made without the expectation of receiving anything in return, often lacking legal enforceability due to the absence of consideration.
True Bargains
Deals that are genuinely advantageous, offering good value for the money paid.
Legal Consideration
Something of value, which can be a promise, service, or object, exchanged between parties as part of a contract.
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