Consideration in an agreement means

Reference no: EM13188613

1. Consideration in an agreement means:
the legal terms used in the contract
the parties' exchange of promises
the competence of the parties
the intent of the contract

2. The party to whom a promise is made in the making of a contract is known as:
guarantor
promisee
underwriter
promisor

3. Consideration required in an enforceable contract can take any of the following forms except:
gratuitous promises
exchange of promises
forbearance
pledges or subscriptions.

Reference no: EM13188613

Questions Cloud

Salesman earns commission on the sales made : "A salesman earns commission on the sales made. The commission is based on the salesman's job code and sales amount. A salesman with a job code " P" for permanent employee, and sales above 3000 earns 4% commission on the sales made. Salesman with a j..

Identify an advantage and disadvantage of each : Two indicators of economic development include Gross Domestic Product (GDP) and the Human Development Index (HDI). What is the difference between these two ways of measuring levels of economic development Identify an advantage and disadvantage of ..

Sounding out words in storybooks : Carmenita is teaching her son to read by sounding out words in storybooks she reads to him. What approach is she using?

Determine total benefit and total cost from an activity : Suppose that the total benefit and total cost from an activity are, respectively, given by the following equations: B(Q) = 28Q - 5Q^2 and C(Q) = 100 + 8Q. (Note: MB(Q) = 28 - 10Q and MC(Q) - 8.)

Consideration in an agreement means : Consideration in an agreement means, Consideration required in an enforceable contract can take any of the following forms except:

Does your business have a timeframe : Benchmarking program worthy of every effort to bridge the gap and drive improvement in my opinion - Does your business have a timeframe in which to get to world class?

Strand of dna can be separated by heating the dna sample : The strand of DNA can be separated by heating the DNA sample. The input heat energy breaks the hydrogen bonds between base pairs, allowing the strands to separate from one another. Suppose that you are given two DNA samples.

Divergence-convergence and sliding-transform : Why do the three plate boundaries (divergence, convergence, sliding-transform) have very different maximum earthquake sizes?

Plantation crops and the slavery system : How did plantation crops and the slavery system change between 1800 and 1860? Why did these changes occur?

User Account

All Pages