A promise of an act by one party in exchange for the promise of an act by another is also considered a:
A) void contract.
B) valid offer and acceptance.
C) valid consideration.
D) voidable contract.

Question

Quizplus · Accepted Answer

A promise of an act by one party in exchange for the promise of an act by another is a valid consideration, which is essential for a contract to be valid. It signifies that both parties have agreed to provide something of value to each other. Thus, options A, B, and D are incorrect.

A Promise of an Act by One Party in Exchange