Aaron questions whether there is consideration for his contract with Banquet Hall to exchange his musical performance of country tunes at select social events for Banquet's payment of a certain amount. To constitute consideration, the value of whatever is exchanged must be
A)objectively worthy.
B)precisely adequate.
C)legally sufficient.
D)practically sound.Fact Pattern 8-1 Teatro Restoration, Inc., begins renovating an old theater for Urban Edge Productions, but after three months Teatro demands an extra $250,000.Urban Edge agrees to pay.

Question

Aaron questions whether there is consideration for his contract with Banquet Hall to exchange his musical performance of country tunes at select social events for Banquet's payment of a certain amount. To constitute consideration, the value of whatever is exchanged must be​
A)objectively worthy.
B)precisely adequate.
C)legally sufficient.
D)practically sound.Fact Pattern 8-1​ Teatro Restoration, Inc., begins renovating an old theater for Urban Edge Productions, but after three months Teatro demands an extra $250,000.Urban Edge agrees to pay.

Quizplus · Accepted Answer

Consideration in a contract must be legally sufficient, meaning it must be something of value in the eyes of the law, but it does not need to be objectively worthy, precisely adequate, or practically sound.

Aaron Questions Whether There Is Consideration for His Contract with Banquet