Home & Barn Construction,Inc.,contracts with Idyll Farms to build a new dairy barn on Idyll's property for which Idyll agrees to pay.The elements of this,and any other,contract include
A) the parties' capability.
B) consideration.
C) necessity of purpose.
D) price.

Question

Home & Barn Construction,Inc.,contracts with Idyll Farms to build a new dairy barn on Idyll's property for which Idyll agrees to pay.The elements of this,and any other,contract include​ 
A) ​the parties' capability. 
B) ​consideration. 
C) ​necessity of purpose. 
D) ​price.

Quizplus · Accepted Answer

Consideration is a fundamental element of a contract, referring to something of value exchanged between the parties involved.