Asked by
ashley oreoFHF
on Nov 11, 2024
Verified
Consideration is restricted to the exchange of money.
Consideration
The benefit which must be bargained for between the parties and is the essential reason for a party entering into a contract.
Exchange Of Money
The act of giving one form of currency in return for another, which can occur in financial transactions, currency exchange, or the purchase of goods and services.
- Recognize the necessity of consideration for a contract to be binding and the acceptable forms of consideration.
Verified Answer
RZ
Learning Objectives
- Recognize the necessity of consideration for a contract to be binding and the acceptable forms of consideration.