Consideration the inducement to make a promise enforceable.

Question

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Consideration is an essential element in the formation of a contract, and it refers to a benefit received by one party in exchange for their promise or undertaking. In order for a promise to be legally enforceable, there must be some form of consideration involved. This means that the promise must have been made as a result of an inducement or benefit provided to the promisor by the promisee. Without consideration, there is no binding contract.

Consideration the Inducement to Make a Promise Enforceable