Consideration is:
A) the concern shown by the other contracting party.
B) what is demanded by the promisor as the price for the promise.
C) a stated number of dollars.
D) the concern of both contracting parties for the protection of the environment.

Question

Quizplus · Accepted Answer

Consideration refers to what is demanded by the promisor as the price for the promise. It is the benefit received by one party and the price paid by the other in a contract. Option A is not an accurate description of consideration, option C refers to a specific amount of money rather than consideration as a concept, and option D is not necessarily related to consideration in all contracts.

Consideration Is