The legal mechanism for evaluating the existence of an incentive for a person's promise to establish a binding contract and acts as a receipt of a legal benefit or the suffering of a legal detriment is ______.
A) collusion
B) accord and satisfaction
C) consideration
D) reversion
E) novation

Question

Quizplus · Accepted Answer

There must be some incentive or inducement for a person's promise or it is not binding. The legal mechanism for evaluating the existence of this incentive is consideration, the receipt of a legal benefit or the suffering of a legal detriment.

The Legal Mechanism for Evaluating the Existence of an Incentive