Asked by Stephanie Nieto on Jun 15, 2024
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The rule on adequacy of consideration reflects the laissez-faire assumption of freedom of contract.
Adequacy Of Consideration
The fairness of the value or price exchanged in a contract, though the law typically does not require consideration to be equal in value.
Laissez-Faire
An economic philosophy of free-market capitalism that opposes government intervention in business affairs, advocating for a "let do" or "let people do as they please" approach.
- Become familiar with the essential principle of consideration as a cornerstone in contract law.
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Learning Objectives
- Become familiar with the essential principle of consideration as a cornerstone in contract law.
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