True consideration occurs only when the value of one promise is equal to the value of the promise given by the other party.

Name: True consideration occurs only when the value of one promise is equal to the value of the promise given by the other party.
Brand: Quizplus
Rating: 4.7 (40 reviews)

Question

Quizplus · Accepted Answer

True consideration occurs when both parties exchange something of value, but it does not require the promises to be of equal value. Consideration simply requires that each party gives something and receives something in return, regardless of the value.

True Consideration Occurs Only When the Value of One Promise