Consideration in a Contract May Be More Than Just the Promises

question 44

True/False

Consideration in a contract may be more than just the promises exchanged by the parties,but the actual benefit gained and the detriment suffered by them.

Recognize the significance of corporate efforts in environmental responsibility.

Comprehend legal protections against discrimination and harassment in the workplace.

Understand the components and attributes that are not part of the cultural adaptation process.

Comprehend the process of cultural and biological adaptation in humans.

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Definitions:

Diminishing

A principle that refers to a decrease or reduction in the effectiveness, value, or quantity of something over time or under certain conditions.

Additional Unit

An incremental quantity of a product or service, typically considered in the context of production or consumption.

Substitution Effect

The change in the quantity demanded of a good that results from a change in price, making the good more or less expensive relative to other goods.

Income Effect

The alteration in the consumption habits of a person or an economy due to a variation in actual income.