Andrew agreed to exchange something clearly without value to enter a contract with Milt. The contract will not fail for lack of consideration because, if the parties agree to the exchange, the courts will not be concerned about whether the consideration is "adequate."
Correct Answer:
Verified
Q11: Legal detriment means the obtaining by the
Q12: Sandy's private secretary promises not to disclose
Q13: "Consideration" requires an actual benefit to both
Q14: The parties to a contract may modify
Q15: James promises to pay Brooke $2,500 if
Q17: An output contract is a special form
Q18: Dana gives care to Marnie's dog when
Q19: An agreement to sell the entire production
Q20: In most, if not all, cases where
Q21: Under the common law, payment of a
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents