Asked by Janet Miller on Jul 14, 2024
Verified
The act of performing a contract or the offer of payment of money due under a contract is known as a(n) :
A) Guarantee
B) Tender
C) Seal
D) Estoppel
E) Consideration
Tender
The formal process of submitting a proposal or bid to undertake a contract or supply goods or services.
Consideration
Something of value that is exchanged between parties as part of a contract, making the agreement legally binding.
- Become familiar with the legal meaning and obligations of consideration in the context of contract law.
Verified Answer
BB
Benjamin BustosJul 20, 2024
Final Answer :
B
Explanation :
Tender refers to the act of performing a contract or the offer of payment of money due under a contract. It involves fulfilling obligations or proposing to fulfill the obligations as agreed upon in a contract.
Learning Objectives
- Become familiar with the legal meaning and obligations of consideration in the context of contract law.