The concept of consideration is that the parties to a contract should carefully consider the contract's terms before they decide to enter into the agreement.

Name: The concept of consideration is that the parties to a contract should carefully consider the contract's terms before they decide to enter into the agreement.
Brand: Quizplus
Rating: 4.8 (58 reviews)

Question

Quizplus · Accepted Answer

Consideration in contract law refers to something of value exchanged between parties, which is necessary for a contract to be legally binding, not the act of considering the terms.

The Concept of Consideration Is That the Parties to a Contract