Asked by Daniel Alvarez on Jul 15, 2024
Verified
Jeremy agrees not to sue Angela for having crashed into his car if she agrees to pay for his repairs. Since he only promised not to do something which he could have done, he has not given consideration for her promise to pay.
Consideration
In legal contracts, refers to something of value exchanged between parties, which is a necessary element for the contract to be valid.
Sue
To initiate legal proceedings against a person or entity in order to seek a remedy or resolution for a grievance.
- Understand the legal concept of consideration and its relevance in contract formation.
- Establish the criteria that elevate promises to the status of legally binding arrangements.
Verified Answer
PP
Primrose PanesarJul 20, 2024
Final Answer :
False
Explanation :
Consideration in a contract can be an act, a forbearance (choosing not to do something one has the right to do, like suing), or a promise to do either. Jeremy's promise not to sue Angela is a valid consideration because he is giving up his legal right to sue her in exchange for her promise to pay for the repairs.
Learning Objectives
- Understand the legal concept of consideration and its relevance in contract formation.
- Establish the criteria that elevate promises to the status of legally binding arrangements.