Regarding consideration,an act occurs when a person
A)complies with the law.
B)fulfills an obligation under an existing contract.
C)does something not legally required.
D)All of these are correct.

Question

Quizplus · Accepted Answer

Consideration is something of value (such as money, goods, or services) that is given by one party to another in exchange for something else of value. It must be a promise, act, or forbearance (refraining from doing something) that is not already obligated by law or a pre-existing duty. Therefore, choice C is correct as it reflects an act that is not legally required, but still fulfills the requirement for consideration.

Regarding Consideration,an Act Occurs When a Person