Understanding Consideration in Business Law

The benefit received by the promisee

The benefit received by the promisor

The price paid by the promisee for the promisor's obligation (correct)

The price paid by the promisor for the promisee's obligation

As something given by the promisor to the promisee

As something with no specific value

As something in return with a double aspect of benefit to the promisor and detriment to the promisee (correct)

As something given by the promisee to the promisor without any benefit

'Something given' without any expectation

'Something monetary' exchanged between parties

'Something valuable' only for one party

'Something in return' for a promise (correct)

<p>'No consideration, no contract'</p> Signup and view all the answers

<p>Without it, no single promise will be enforceable</p> Signup and view all the answers