In Order for a Contract to Be Enforceable,should the Law

question 48

Essay

In order for a contract to be enforceable,should the law require that consideration be in a similar amount to the item or services being transferred? Provide and explain your opinion.

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Definitions:

Accounts Receivable Turnover

A financial metric that measures how many times a company collects its average accounts receivable balance within a specific period.

Preceding Year

Refers to the year that immediately comes before the current year.

Earnings Per Share

A company's profit divided by the number of outstanding shares of its common stock.

Interest Expense

The cost incurred by an entity for borrowed funds, typically reported on the income statement within financial reporting.