A Party Has Given Consideration for a Contract If That

question 67

True/False

A party has given consideration for a contract if that party suffers a legal detriment,even if the other party does not receive a benefit.

---

Definitions:

Vertical Conflict

Disagreements or disputes between different levels of the same distribution channel, such as manufacturers and retailers or wholesalers and retailers.

Marketing Channel

The pathways or routes through which goods and services flow from the producer to the consumer, including intermediaries like wholesalers and retailers.

Lateral Conflict

Disputes or disagreements that occur between businesses at the same level in a distribution channel, such as two retailers.

Horizontal Conflict

A disagreement or dispute occurring between businesses at the same level in a distribution channel, such as retailers or wholesalers, often over competition for the same customers.