Which of the following are the two basic elements to consideration?
A) Bargained-for exchange and legal sufficiency
B) Legal detriment and legal benefit
C) Legal sufficiency and legal adequacy
D) Promise and forbearance

Question

Quizplus · Accepted Answer

The two basic elements to consideration are bargained-for exchange and legal sufficiency. A bargained-for exchange refers to a mutual exchange of promises or actions between parties, while legal sufficiency requires that the consideration be something of value in the eyes of the law. Choices B, C, and D all refer to aspects of consideration, but they do not encompass the two basic elements.

Which of the Following Are the Two Basic Elements to Consideration