Asked by arielis reyes on May 10, 2024
Verified
A contractual agreement always involves either a promise exchanged for a promise or a promise exchanged for a completed act or forbearance to act.
Forbearance To Act
Refers to a legal principle involving the deliberate abstention from enforcing a right.
Contractual Agreement
A legally binding agreement between two or more parties outlining their rights and obligations.
- Delve into the details concerning offer, acceptance, and agreement within assorted contractual contexts.
Verified Answer
SS
Sharon ShresthaMay 16, 2024
Final Answer :
True
Explanation :
A contractual agreement, by definition, involves either a promise in exchange for another promise (bilateral contract) or a promise in exchange for a performance or forbearance from performing a certain act (unilateral contract), which are the fundamental elements of forming a contract.
Learning Objectives
- Delve into the details concerning offer, acceptance, and agreement within assorted contractual contexts.