Consideration required in an enforceable contract can take various forms such as exchange of promises, forbearance, and pledges or subscriptions.

Question

Quizplus · Accepted Answer

This statement is true. Consideration is an essential element of a contract, and it refers to something of value given or promised in exchange for the other party's promise or performance. Consideration can take different forms, including exchange of promises, forbearance, and pledges or subscriptions.

Consideration Required in an Enforceable Contract Can Take Various Forms