In a two-party contract,which is true about consideration?

Question

Quizplus · Accepted Answer

Consideration refers to the exchange of benefits or legal detriments between the parties in a contract. In a two-party contract, each party must either receive a benefit or suffer a legal detriment in order for there to be valid consideration. This means that Option A (Only one party must suffer a legal detriment) and Option B (Both parties must receive a benefit) are not true. Option C (Each party must suffer a legal detriment) is also not entirely correct, as suffering a legal detriment is not the only way to provide consideration. Therefore, the best choice is Option D (Each party must either receive a benefit or suffer a legal detriment).

In a Two-Party Contract,which Is True About Consideration