For consideration to exist there must be a legal detriment or legal benefit.

Question

Quizplus · Accepted Answer

Consideration is an essential element of a valid contract, and it refers to a benefit or a detriment that a party receives or incurs as a result of entering into the agreement. For consideration to be present, there must be a legal benefit or a legal detriment. This means that the parties must give up something of value or suffer a loss that they are legally entitled to avoid or mitigate. Without a legal benefit or detriment, there can be no consideration, and the contract would be unenforceable.

For Consideration to Exist There Must Be a Legal Detriment