Which of the following is correct with regard to consideration?
A) In a unilateral contract, a promise is exchanged for an act or forbearance to act.
B) In a bilateral contract, there is an exchange of promises.
C) Legal sufficiency is always related to adequacy of consideration.
D) Two of these are correct.

Question

Quizplus · Accepted Answer

A and B are correct. In a unilateral contract, a promise is indeed exchanged for an act or forbearance to act, and in a bilateral contract, there is an exchange of promises between the parties. Legal sufficiency of consideration does not necessarily equate to its adequacy, making C incorrect.

Which of the Following Is Correct with Regard to Consideration