This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: What is consideration and what are the two basic elements of ... (Read 85 times)

RYAN BANYAN

  • Hero Member
  • *****
  • Posts: 563
on: Jun 24, 2018
What is consideration and what are the two basic elements of consideration?

Question 2

If a party does not fulfill their obligations as set forth in a sales contract, it is known as:
 A) non-payment.
 B) termination.
 C) non-performance.
 D) all of the above.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

shailee

  • Sr. Member
  • ****
  • Posts: 392
Reply #1 on: Jun 24, 2018
Answer to Question 1

Consideration is the inducement, price, or promise that causes a person to enter into a contract and forms the basis for the parties' exchange. Contracts must be a two-way street. If one side gets all the benefit and the other side gets nothing, then an agreement lacks consideration and is not an enforceable contract. Consideration is proof that the parties intended to be bound to their promises. There are two basic elements of consideration: value and bargained-for exchange.

Answer to Question 2

C


RYAN BANYAN

  • Member
  • Posts: 563
Reply 2 on: Jun 24, 2018
Gracias!

rleezy04

  • Member
  • Posts: 322
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Serum cholesterol testing in adults is recommended every 1 to 5 years. People with diabetes and a family history of high cholesterol should be tested even more frequently.

Did you know?

Recent studies have shown that the number of medication errors increases in relation to the number of orders that are verified per pharmacist, per work shift.

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

Did you know?

The Centers for Disease Control and Prevention (CDC) was originally known as the Communicable Disease Center, which was formed to fight malaria. It was originally headquartered in Atlanta, Georgia, since the Southern states faced the worst threat from malaria.

Did you know?

There are actually 60 minerals, 16 vitamins, 12 essential amino acids, and three essential fatty acids that your body needs every day.

Sieve-tube elements and companion cells in phloem tissue Sieve-tube elements and companion cells in phloem tissue
The mammalian urinary system including the basic functional unit of the nephron. The mammalian urinary system including the basic functional unit of the nephron.
Formed elements of blood: erythrocytes, leukocytes (neutrophils, eosinophils, basophils, lymphocytes Formed elements of blood: erythrocytes, leukocytes (neutrophils, eosinophils, basophils, lymphocytes
1–12 Elements essential to animal life and health 1–12 Elements essential to animal life and health
Living systems such as the human body consist of closely interrelated elements Living systems such as the human body consist of closely interrelated elements
Basic two-handed kneading. Tissues are lifted with the whole hand in firm contact. Basic two-handed kneading. Tissues are lifted with the whole hand in firm contact.
Video: The 4 steps of translation Animation

For a complete list of videos, visit our video library