The _____ requirement of a valid contract ensures that parties to the contract actually bind themselves to the agreement by exchanging an agreed-upon legal detriment.
A) consideration
B) capacity to enter into a contract
C) legality
D) mutual assent

Question

Quizplus · Accepted Answer

Consideration ensures that parties to the contract actually bind themselves to the agreement by exchanging an agreed-upon legal detriment, that is, the parties agree to do something they do not have to do, or agree to forbear from doing something they could do if they want to.

The _____ Requirement of a Valid Contract Ensures That Parties