Fritz offers to buy a guitar owned by Holle for twice what she paid for it. She accepts and hands the guitar to Fritz. Holle's delivery of the guitar is

A) not consideration because its adequacy is unfair.
B) not consideration because the exchange is not a bargain.
C) consideration.
D) not consideration because the value is not legally sufficient.

Question

brittney adams · Accepted Answer

Final Answer : C, Explanation :  Consideration in a contract refers to something of value exchanged between the parties. Holle's delivery of the guitar in exchange for twice its purchase price constitutes consideration because it represents a mutual exchange of value: the guitar for the agreed-upon price. The fairness or adequacy of the consideration is generally not relevant as long as something of value is exchanged.

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