To Be Legally Sufficient,consideration Must Include Something of Economic Value

question 25

True/False

To be legally sufficient,consideration must include something of economic value.

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Definitions:

Chief Executive Officer

The highest-ranking executive in a company, responsible for making major corporate decisions, managing overall operations, and acting as the main point of communication between the board of directors and corporate operations.

Board of Directors

A group of individuals elected to represent shareholders and govern the company's activities by establishing policies and making decisions.

Enterprise Incentive Plans

Strategic programs designed to encourage and reward employee performance across an organization, typically aligning with broader business goals.

Culture of Ownership

A culture of ownership is an organizational ethos where employees feel responsible for their roles and outcomes, often leading to higher engagement, accountability, and performance.