Which of the following statements is true regarding consideration?
A) The law does not deal with the value of consideration unless fraud is involved.
B) A valid and binding contract can exist without consideration.
C) If you buy a car the seller's consideration is the price of the automobile.
D) If you buy a car the buyer's consideration is the title and possession to the car.

Question

Quizplus · Accepted Answer

If there is no consideration between the parties, there is no valid and binding contract. If you buy a car the seller's consideration is title and possession to the car and the buyer's consideration is the price of the automobile. The law does not deal with the value of consideration unless fraud is involved.

Which of the Following Statements Is True Regarding Consideration