Hợp đồng & Thực hiệnCâu 793 / 1605
Consideration in a contract is best defined as:
a.A good-faith deposit paid at signing
b.A bargained-for exchange in which each party gives up something of legal value
c.The contractor's careful thought before signing
d.The total dollar price stated in the agreement
Giải thích
Consideration is the bargained-for exchange of legal value that induces each party to enter the contract; each side must give up a legal right or promise to do (or refrain from) something. It need not be money and is not merely the contract price. 'Careful thought' is a lay meaning of 'consideration' and is legally irrelevant. A deposit can be consideration, but consideration is the broader concept of a mutual exchange of value, not just a deposit.
Luyện miễn phí toàn bộ 1605 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- Taken together, the home improvement contract rules of §7159 require all of the following EXCEPT:
- A homeowner emails a contractor, 'I'll pay you $8,000 to repaint my house.' The contractor emails back, 'I accept, but the price is $9,500.' Which statement best describes the legal effect of the contractor's reply?
- Which of the following is NOT one of the essential elements required to form a legally enforceable contract?
- A contractor signs a contract to build an addition, but the person who signed on behalf of the property owner is a 16-year-old minor. What is the likely legal status of the contract?
- A contractor agrees to install an unpermitted electrical system that knowingly violates code and endangers occupants. If a dispute arises over payment, how will a court most likely treat the agreement?
- Under the objective theory of contracts, whether a binding agreement exists is determined by:
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Sen Lin, Người sáng lập PrepPass · Đối chiếu với California CSLB Contractor License Law & Business Exam · Quy trình kiểm tra
Người kiểm duyệt Abraham Chen — Licensed California General Contractor (CSLB License #1101856 — kiểm tra)