Asked by Atilla Furkan on Jul 13, 2024
Verified
Some states still allow a contract without consideration to be enforced if it is under seal.
Consideration
Something of value exchanged between parties in a contract, serving as the incentive or reason for each party to enter into the agreement.
Under Seal
A legal term indicating that a document or agreement is officially secured, confidential, and may have legal implications if opened or disclosed improperly.
- Master the fundamental concepts behind contract formation, which include offer, acceptance, and consideration.
Verified Answer
DO
DIAYI ORTEGAJul 19, 2024
Final Answer :
True
Explanation :
States today do not require contracts to be under seal.However,several states still allow a contract without consideration to be enforced if it is under seal.
Learning Objectives
- Master the fundamental concepts behind contract formation, which include offer, acceptance, and consideration.