Examlex
Which of the following is an example of a social convention?
Adequate Consideration
Sufficient value or compensation exchanged between parties in a contract, making the agreement legally binding.
Detriment
A state of being harmed or damaged, often used in legal contexts to describe loss or injury.
Adequacy of Consideration
Refers to a legal assessment of whether the consideration (value) given in exchange for a promise or for performance in a contract is fair and reasonable.
Unilateral Contract
A contract where only one party makes a promise or undertakes a performance without requiring a reciprocal agreement from the other party.
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