Asked by taylor harrington on Jun 21, 2024
Verified
Consideration is what distinguishes enforceable agreements from gratuitous promises.
Gratuitous Promises
Promises made without expecting anything in return, often lacking legal enforceability unless supported by formalities like a deed.
Consideration
Something of value exchanged between parties in a contract, which is necessary for the agreement to be legally binding.
- Acquire knowledge on the crucial role of consideration in the context of contract law.
Verified Answer
SR
Sabby RajputJun 28, 2024
Final Answer :
True
Explanation :
The concept of consideration distinguishes agreements that the law will enforce from gratuitous promises,which are normally unenforceable.
Learning Objectives
- Acquire knowledge on the crucial role of consideration in the context of contract law.
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