In the Context of Contract Law, 'Consideration' Is Defined As

question 22

Multiple Choice

In the context of contract law, 'consideration' is defined as:

• A) The act of considering the terms of a contract before agreeing to them.
• B) The monetary value of the contract.
• C) A sum paid by one party for the other party's offer.
• D) The price paid by each party for the other party's promise or performance.

---

Definitions:

Context

The circumstances or setting surrounding a particular event, situation, or environment, which helps to define or influence its meaning.

Negotiation

A process whereby two or more parties aim to reach a mutual agreement through dialogue and compromise.

Online Negotiation

The process of resolving disputes or arriving at agreements through digital platforms, without face-to-face interactions.

Trust

Trust is the reliance on the integrity, strength, ability, or character of a person or thing, foundational to building relationships and effective communication.