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Tuesday, 20 August 2019
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This Old House - Do-it-Yourself

Question - One of the necessary elements of a contract is consideration. Which of the following would be consideration?

Question of the Day
Posted On Monday, 12 August 2019 05:00

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(A) Money

(B) Promise

(C) Service

(D) All of the above

 

Answer:  (D) Consideration, in the legal context, is basically an inducement to the contract; any of the three given choices may be offered or accepted as legal consideration for the contract.

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More in this category: > Second Mortgage Problem When a property is sold on credit and the seller retains the legal title, the agreement under which the property was sold is a:
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