What Is Necessary for Consideration to Be Valid

question 86

Multiple Choice

What is necessary for consideration to be valid?

• A)Consideration must be part of an equal exchange.
• B)Consideration must be money
• C)Consideration must involve performance in exchange for a promise.
• D)Consideration must involve a mutual exchange of promises
• E)Consideration must be the product of a bargained for exchange.

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Definitions:

Random Sample

A sample selected from a larger population in such a way that each member has an equal chance of being included, enhancing representativeness.

Laboratory Experiments

Controlled experiments conducted in a lab setting where variables can be manipulated and outcomes can be measured precisely.

Testable Predictions

Hypotheses or forecasts that can be confirmed or refuted through experimentation or observation.

Psychological Theory

A set of principles aimed at explaining and predicting behavior, emotions, and thoughts.