For Consideration to Have "Legally Sufficient Value," It Must Consist

question 16

True/False

For consideration to have "legally sufficient value," it must consist of goods or money.

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Definitions:

Strict Liability

Legal responsibility for damages or injury, even if the person found strictly liable was not at fault or negligent.

Defendant's Liability

Refers to the obligation of a defendant in a legal case to compensate for loss or damage as determined by a court.

Reasonable Person Standard

A legal principle used to judge an individual's actions based on what a typical or reasonable person would do in similar circumstances.

Superior Skill

An elevated level of expertise or proficiency in a particular area or field.