The consideration paid by a party to a contract can be:
A)forbearance.
B)a promise.
C)an act.
D)any of the above.

Question

Quizplus · Accepted Answer

The consideration paid by a party to a contract can be any of the above (forbearance, a promise, an act). Consideration is the legal term used to describe the benefit that each party receives or expects to receive as a result of the contract. It is an essential element of a valid contract as it indicates that each party has bargained for and received something of value, which creates the mutuality of obligation necessary for the agreement to be enforceable.

The Consideration Paid by a Party to a Contract Can