Examlex
Which of the following definitions best describes parsimony?
Adequacy of Consideration
Pertains to the fairness of the value exchanged in a contractual agreement, often examined in legal disputes over contract validity.
Legally Sufficient
Having the requisite form, substance, and detail to comply with the law and withstand legal scrutiny.
Past Consideration
Consideration for a contract that has already been provided before the agreement is made, not valid as consideration in most legal systems.
Services Provided
Tasks or activities that are performed for the benefit of another party, usually in exchange for compensation.
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