Asked by Samantha Adams on May 26, 2024
Verified
In some states, a contract under seal is binding without consideration.
Under Seal
denotes a formal legal process or document that has been officially sealed, indicating confidentiality or authenticity.
- Comprehend which contracts are obligatorily upheld without consideration and the particular situations where exceptions apply.
Verified Answer
KO
Kylie OlsonJun 01, 2024
Final Answer :
True
Explanation :
In certain jurisdictions, a contract that is formalized with a seal (referred to as a "contract under seal") is considered valid and enforceable even without consideration, which is a departure from the general rule that consideration is required for a contract to be binding.
Learning Objectives
- Comprehend which contracts are obligatorily upheld without consideration and the particular situations where exceptions apply.