Asked by Ameer Salem on Apr 27, 2024
Verified
Past actions unbargained for by the parties in an agreement can become valid consideration for a contract.
Past Actions
Refers to actions or decisions taken in the past that have potential implications or effects in the present or future.
Valid Consideration
A necessary element in the formation of a contract, referring to something of value that is exchanged between the parties.
- Assess the binding nature of agreements premised on antecedent consideration or moral responsibilities.
Verified Answer
MA
Maurice AndersonApr 30, 2024
Final Answer :
False
Explanation :
Consideration must be something of value exchanged between the parties at the time of the agreement; past actions that were not part of the agreement's negotiations cannot be considered valid consideration for a contract.
Learning Objectives
- Assess the binding nature of agreements premised on antecedent consideration or moral responsibilities.