Which of the following is NOT true about consideration?
A)Consideration must be of some value in the eyes of the law.
B)A gratuitous promise is not supported by consideration.
C)Consideration has to be adequate.
D)Consideration must be sufficient.
E)Consideration can be in the form of a detriment to a party.

Question

Quizplus · Accepted Answer

Consideration does not need to be adequate, meaning the law does not require the value of the consideration to be fair or equal to the value of the promise or goods/services received in return. The key requirement is that consideration must be legally sufficient (having some value in the eyes of the law) and not necessarily equal in value to what is received in return.

Which of the Following Is NOT True About Consideration