Essentially, adequacy of consideration concerns the fairness of the bargain.

Question

Essentially, adequacy of consideration concerns the fairness of the bargain.​

Quizplus · Accepted Answer

Adequacy of consideration is indeed related to the fairness of the bargain. It refers to whether the value of the promise, goods or services exchanged by both parties is equal or not. However, it should be noted that adequacy of consideration does not necessarily ensure that the contract is valid, as it is only one of many elements required for a valid contract.

Essentially, Adequacy of Consideration Concerns the Fairness of the Bargain