What is consideration in a valid contract?
Correct answer: B. Something of value given in return for a promise
- A. The written form of the agreement
- B. Something of value given in return for a promise
- C. The motive that led to the agreement
- D. The penalty imposed after breach
Explanation
Consideration is the act, promise, or abstinence given at the desire of the promisor in exchange for the promise. The motive for entering a contract may explain the agreement but is not usually its legal consideration.
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Civil law governs disputes involving private rights, including contracts, property, family relations, torts and compensation. The subject explains breach of duty, civil liability, damages, specific relief, injunctions and other remedies, while distinguishing private claims between individuals from criminal proceedings brought to punish offences against the state.
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