Examlex
Match each definition with the correct word part.
-contus/o
Illusory Promise
A situation in which a party appears to commit to something but really has not committed to anything. It is not a promise and thus not consideration.
Valid Consideration
Valid consideration in a contract represents something of value that is given by all parties involved, serving as the reason or inducement to enter into the contract.
Adequacy Of Consideration
Refers to the fairness of the bargain in a contract, ensuring that what is exchanged holds reasonable value.
Detriment
A loss or harm suffered as a result of an action or decision.
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