What element of a contract refers to both parties receiving some measurable benefit?
A)consideration
B)capacity
C)consent
D)legality

Question

Quizplus · Accepted Answer

Consideration is the element of a contract where both parties receive some measurable benefit. It is a fundamental principle of contract law, where both parties have to give something of value to each other (money, goods, services, etc.) for the contract to be legally binding. Capacity refers to the legal ability of a person to enter into a contract, consent refers to the agreement of both parties to the terms of the contract, and legality refers to the requirement that the contract's purpose and terms must be legal and not against public policy. However, only consideration refers specifically to both parties receiving some measurable benefit.

What Element of a Contract Refers to Both Parties Receiving