From a(n) _______ approach, consideration is defined as a detriment incurred by the promisee.
A) charitable subscription.
B) promissory estoppel.
C) benefit-detriment.
D) bargained-for-exchange.

Question

Quizplus · Accepted Answer

The benefit-detriment approach is based on the idea that consideration is the exchange of a benefit by the promisor for a detriment incurred by the promisee. In this approach, consideration is seen as a "quid pro quo" exchange, where each party gives something of value in return for something else of value. Therefore, consideration is defined as a detriment incurred by the promisee.

From A(n) _______ Approach, Consideration Is Defined as a Detriment