Which of the following will be considered as a valid consideration for a contract?
A) The consideration is not bargained for.
B) The party giving the consideration does not suffer a legal detriment.
C) The party receiving the consideration receives a legal benefit.
D) The consideration is not exchanged between the parties.

Question

Quizplus · Accepted Answer

To qualify as adequate consideration to create a binding contract, the party giving it must suffer a legal detriment and the party receiving it receives a legal benefit. Some kinds of consideration do not qualify as adequate consideration to create a binding contract because they lack one of the requirements of the consideration. That is, they are not bargained for, are not a legal detriment, or are not exchanged between the parties.

Which of the Following Will Be Considered as a Valid