Which of the following is correct with regard to consideration?
A) In a unilateral contract, a promise is exchanged for an act or forbearance to act.
B) In a bilateral contract, there is an exchange of promises.
C) Legal sufficiency is always related to adequacy of consideration.
D) Two of these are correct.

Question

Quizplus · Accepted Answer

A) and B) are correct. In a unilateral contract, a promise is indeed exchanged for an act or forbearance to act, and in a bilateral contract, there is an exchange of promises. C) is incorrect because legal sufficiency does not necessarily relate to the adequacy of consideration.

Which of the Following Is Correct with Regard to Consideration