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2 cards from this section. Quick, good the night before a test.
What is consideration in a contract?
Think about what each party brings to the contract.
Name one type of consideration.
Consider the timing of the exchange.
What must consideration be for a contract to be enforceable?
Think about compliance with law.
True or False: Past consideration is always valid.
Consider the implications of timing.
Evaluate a contract formed for an illegal activity. Discuss its enforceability considering the role of consideration.
Reflect on legal principles surrounding contract legality.
Analyze a scenario where consideration is vague in a contract. Determine the impact on enforceability.
Think about how specificity affects contract clarity.
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