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Second element required for valid contract is consideration

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Reference no: EM131486776

The second element required for a valid contract is consideration. What is consideration and how does consideration factor into the determination by a court if a valid contract exists? In your writing, please be sure to include definitions and/or examples explaining the following aspects of consideration:

A. 2 elements that create adequate consideration

B. Are there exceptions to consideration requirements (if so what are they)

C. How is past consideration viewed by the court?

Reference no: EM131486776

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