The Element of Consideration in a Contract Refers to The

question 48

Multiple Choice

The element of consideration in a contract refers to the:

• A) competence of the parties.
• B) purpose of the contract.
• C) parties' exchange of promises.
• D) form of the contract.

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Definitions:

Motivation

Refers to the factors or stimuli that encourage individuals to pursue and achieve their goals with enthusiasm and persistence.

Theoretical Foundation

The fundamental principles and assumptions that form the basis for a particular theory or field of study.

ERG Theory

A theory proposed by Clayton Alderfer that categorizes human needs into three groups: Existence, Relatedness, and Growth, modifying Maslow's hierarchy of needs.

Maslow's Needs

A theory of psychological development outlined by Abraham Maslow that proposes a hierarchy of human needs, from basic physiological needs to self-actualization.