An enforceable contract contains an offer, an acceptance and _______.

Question

Quizplus · Accepted Answer

Consideration refers to the exchange of something of value (such as money, goods, or services) between the parties involved in the contract. It is an essential element of an enforceable contract because it shows that both parties have agreed to give and receive something in return for their promises. Without consideration, a contract may be considered null and void. Choices A, B, D, and E are incorrect because they do not encompass all the necessary elements of an enforceable contract.

An Enforceable Contract Contains an Offer, an Acceptance and _______