Fact Pattern 8-2
Brad defends against a breach-of-contract suit by College Credit Corporation by claiming that their deal-a student loan accruing interest at a certain rate and payable beginning on a certain date-was unfair because the considera?tion for their contract was inadequate.
-Refer to Fact Pattern 8-2.If,as Brad claims,the consideration in this problem is inadequate,it may indicate a lack of

Question

Quizplus · Accepted Answer

Brad's defense is based on the concept of inadequate consideration, which refers to a situation where one party does not receive a fair exchange for what they are giving up in a contract. If this is established, it may indicate a lack of a bargained-for exchange or mutual assent between the parties. In other words, there may not have been a meeting of the minds or a true exchange of promises, which is a necessary element of a contract.

Fact Pattern 8-2 Brad Defends Against a Breach-Of-Contract Suit by College Credit Corporation