Asked by Pavlog Pawluk on Apr 27, 2024
Verified
Which of the following is often used by agreements that try to make gratuitous promises look like true bargains?
A) Nominal consideration
B) Past consideration
C) Composition agreement
D) Requirements contract
Nominal Consideration
A token amount in a contract to acknowledge the agreement, without intending it to be a true reflection of the value exchanged.
Gratuitous Promises
Promises made without the expectation of receiving anything in return, often lacking legal enforceability due to the absence of consideration.
True Bargains
Deals that are genuinely advantageous, offering good value for the money paid.
- Understand the legal significance of nominal consideration and its role in contract law.
Verified Answer
FM
Fernanda MorenoApr 28, 2024
Final Answer :
A
Explanation :
When agreements try to make gratuitous promises look like true bargains,they make use of nominal considerations.Courts generally refuse to enforce such agreements unless they find that the stated consideration was actually bargained for.
Learning Objectives
- Understand the legal significance of nominal consideration and its role in contract law.