Which of the following statements is true about the consideration in a contract?
A) Courts usually enforce contractual promises in the absence of consideration.
B) The amount of the consideration is the most important and relevant part of a contract for a legal action.
C) The consideration must be contemporaneous and a part of both parties' understanding of the contract terms.
D) The consideration in any unilateral contract is usually absent.
E) Performance made before parties discuss their agreement counts as a consideration.

Question

Quizplus · Accepted Answer

The amount of the consideration is generally irrelevant. An important part of consideration is that it must be bargained for. In other words, the consideration must be contemporaneous and a part of both parties' understanding of the contract terms.

Which of the Following Statements Is True About the Consideration